Intech Investment Management LLC Boosts Stock Position in Itron, Inc. (NASDAQ:ITRI)

Intech Investment Management LLC grew its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 112.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,363 shares of the scientific and technical instruments company’s stock after buying an additional 21,919 shares during the period. Intech Investment Management LLC’s holdings in Itron were worth $4,491,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ITRI. Erste Asset Management GmbH purchased a new position in shares of Itron during the 3rd quarter valued at about $38,534,000. Bowen Hanes & Co. Inc. purchased a new position in Itron in the 4th quarter worth approximately $27,486,000. Franklin Resources Inc. lifted its holdings in Itron by 611.9% in the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock worth $31,128,000 after purchasing an additional 243,102 shares in the last quarter. Banco Santander S.A. lifted its holdings in Itron by 4,133.3% in the 3rd quarter. Banco Santander S.A. now owns 190,500 shares of the scientific and technical instruments company’s stock worth $20,347,000 after purchasing an additional 186,000 shares in the last quarter. Finally, Soros Fund Management LLC lifted its holdings in Itron by 38.9% in the 3rd quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company’s stock worth $29,373,000 after purchasing an additional 77,050 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITRI has been the topic of a number of research analyst reports. Oppenheimer boosted 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 target on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Finally, Guggenheim reduced their price objective on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Stock Performance

NASDAQ ITRI opened at $105.49 on Wednesday. The company has a market cap of $4.77 billion, a P/E ratio of 21.62, a P/E/G 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 business’s 50 day moving average price is $103.94 and its 200-day moving average price is $107.54. Itron, Inc. has a fifty-two week low of $86.45 and a fifty-two week high of $124.90.

Insider Activity

In other news, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the transaction, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the business’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 $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by insiders.

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.