Saturna Capital Corp Acquires 2,768 Shares of Itron, Inc. (NASDAQ:ITRI)

Saturna Capital Corp increased its holdings in Itron, Inc. (NASDAQ:ITRI) by 38.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,981 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,768 shares during the quarter. Saturna Capital Corp’s holdings in Itron were worth $1,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Continuum Advisory LLC lifted its holdings in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 102 shares during the period. Quarry LP raised its position in shares of Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 102 shares during the last quarter. Covestor Ltd lifted its stake in shares of Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 111 shares during the period. Hager Investment Management Services LLC acquired a new position in shares of Itron in the fourth quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC boosted its holdings in Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after acquiring an additional 129 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $103.31 on Wednesday. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 0.81 and a beta of 1.49. The stock’s 50 day moving average is $104.48 and its 200-day moving average is $107.41. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a twelve month low of $86.13 and a twelve month high of $124.90.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Guggenheim dropped their price target on shares of Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group upped their price target on shares of Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Piper Sandler boosted their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Itron has an average rating of “Moderate Buy” and an average target price of $127.64.

Insiders Place Their Bets

In other news, CAO David Marshall Wright sold 317 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of Itron 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,037 shares of company stock worth $385,815. Insiders own 1.45% of the company’s stock.

Itron Profile

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.