Hager Investment Management Services LLC Acquires New Shares in Itron, Inc. (NASDAQ:ITRI)

Hager Investment Management Services LLC bought a new position in shares of Itron, Inc. (NASDAQ:ITRI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 620 shares of the scientific and technical instruments company’s stock, valued at approximately $67,000.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Itron by 90.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after purchasing an additional 243,355 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Itron by 1.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock valued at $45,922,000 after purchasing an additional 6,310 shares during the period. Pinnacle Associates Ltd. grew its position in shares of Itron by 9.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock valued at $42,550,000 after purchasing an additional 34,014 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in Itron during the 3rd quarter worth approximately $38,534,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ITRI shares. TD Cowen raised their price objective on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer lifted their price target on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Robert W. Baird boosted their target price on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Piper Sandler upped their price target on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Stock Performance

NASDAQ ITRI opened at $106.69 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The company has a fifty day simple moving average of $109.52 and a 200 day simple moving average of $107.04. Itron, Inc. has a 12-month low of $71.26 and a 12-month high of $124.90. The company has a market cap of $4.81 billion, a P/E ratio of 21.86, a PEG ratio of 0.89 and a beta of 1.46.

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.