Susquehanna Fundamental Investments LLC Purchases Shares of 60,615 Itron, Inc. (NASDAQ:ITRI)

Susquehanna Fundamental Investments LLC bought a new stake in Itron, Inc. (NASDAQ:ITRI) during the fourth quarter, Holdings Channel.com reports. The fund bought 60,615 shares of the scientific and technical instruments company’s stock, valued at approximately $6,582,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of Itron by 0.5% during the fourth 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 purchasing an additional 100 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Itron by 6.1% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,185 shares of the scientific and technical instruments company’s stock worth $237,000 after purchasing an additional 125 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Itron by 3.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company’s stock worth $513,000 after purchasing an additional 140 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Itron by 15.6% during the fourth quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company’s stock worth $128,000 after purchasing an additional 159 shares during the last quarter. Finally, Mariner LLC raised its stake in shares of Itron by 6.3% during the fourth quarter. Mariner LLC now owns 3,448 shares of the scientific and technical instruments company’s stock worth $374,000 after purchasing an additional 204 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Trading Up 1.1 %

Shares of ITRI stock opened at $110.41 on Monday. Itron, Inc. has a fifty-two week low of $90.03 and a fifty-two week high of $124.90. The stock has a market cap of $5.03 billion, a P/E ratio of 22.63, a P/E/G ratio of 0.81 and a beta of 1.39. The business has a fifty day simple moving average of $103.10 and a 200-day simple moving average of $107.44. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Insider Activity

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was 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 sold a total of 4,037 shares of company stock worth $385,815 over the last 90 days. 1.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITRI. Piper Sandler upped their price target 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 price target on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Guggenheim reiterated a “buy” rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.64.

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.