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

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

Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in shares of Itron by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company’s stock worth $2,367,000 after buying an additional 100 shares during the last quarter. Quarry LP increased its stake in Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares during the period. Continuum Advisory LLC increased its position in shares of Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 102 shares during the period. Stifel Financial Corp raised its position in Itron by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock valued at $526,000 after purchasing an additional 108 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its holdings in Itron by 6.1% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,185 shares of the scientific and technical instruments company’s stock valued at $237,000 after acquiring an additional 125 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Itron

In other news, CFO Joan S. Hooper sold 2,322 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the transaction, the chief financial officer now owns 92,076 shares of the company’s stock, valued at $8,553,860.40. This represents a 2.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary C. Hemmingsen sold 750 shares of the company’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 directly owns 5,630 shares of the company’s stock, valued at $603,930.10. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock valued at $385,815 over the last three months. 1.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Itron Trading Up 1.1 %

Shares of Itron stock opened at $105.92 on Wednesday. The business has a 50 day moving average price of $104.18 and a 200 day moving average price of $108.07. The company has a market capitalization of $4.83 billion, a P/E ratio of 21.70, 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 current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90.

Itron Company 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.