Arrowstreet Capital Limited Partnership Boosts Holdings in Itron, Inc. (NASDAQ:ITRI)

Arrowstreet Capital Limited Partnership grew its position in Itron, Inc. (NASDAQ:ITRI) by 85.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,484 shares of the scientific and technical instruments company’s stock after purchasing an additional 196,396 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.94% of Itron worth $46,199,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Proficio Capital Partners LLC acquired a new position in Itron during the 4th quarter valued at about $30,000. Continuum Advisory LLC raised its position in shares of Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 102 shares during the last quarter. Quarry LP boosted its stake in Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 102 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in Itron during the 4th quarter worth approximately $67,000. Finally, Contravisory Investment Management Inc. grew its position in Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock worth $94,000 after purchasing an additional 525 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Itron

In related news, Director Mary C. Hemmingsen sold 750 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the transaction, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. This represents a 11.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,037 shares of company stock valued at $385,815 in the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ITRI. Guggenheim lowered their price objective on shares of Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Piper Sandler raised their price objective on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Oppenheimer upped their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Stock Performance

Shares of NASDAQ ITRI opened at $105.92 on Wednesday. The company has a market capitalization of $4.83 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The company’s fifty day moving average price is $104.18 and its 200 day moving average price is $108.07. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.