Tredje AP fonden purchased a new position in Itron, Inc. (NASDAQ:ITRI – Free Report) in the fourth quarter, Holdings Channel.com reports. The fund purchased 71,976 shares of the scientific and technical instruments company’s stock, valued at approximately $6,684,000.
A number of other hedge funds have also added to or reduced their stakes in ITRI. Private Trust Co. NA raised its holdings in Itron by 112.4% in the 4th quarter. Private Trust Co. NA now owns 274 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 145 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Itron during the 3rd quarter valued at about $32,000. Optiver Holding B.V. bought a new stake in shares of Itron during the 3rd quarter valued at about $36,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Itron during the third quarter valued at about $44,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Itron by 343.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company’s stock valued at $46,000 after buying an additional 268 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.
Itron Trading Down 3.4%
NASDAQ:ITRI opened at $78.02 on Wednesday. Itron, Inc. has a one year low of $77.77 and a one year high of $142.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.66 and a quick ratio of 2.24. The company’s 50-day simple moving average is $89.15 and its 200 day simple moving average is $94.92. The firm has a market capitalization of $3.46 billion, a P/E ratio of 12.44, a PEG ratio of 0.71 and a beta of 1.35.
Wall Street Analyst Weigh In
ITRI has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Itron in a report on Friday, May 8th. TD Cowen reduced their target price on Itron from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Raymond James Financial assumed coverage on Itron in a research report on Tuesday, April 21st. They issued an “underperform” rating for the company. Oppenheimer raised their target price on Itron from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Zacks Research raised Itron from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $131.22.
View Our Latest Stock Analysis on Itron
Insider Activity at Itron
In other Itron news, CFO Joan S. Hooper sold 15,293 shares of Itron stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $99.54, for a total transaction of $1,522,265.22. Following the completion of the transaction, the chief financial officer owned 124,196 shares in the company, valued at approximately $12,362,469.84. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher E. Ware sold 4,486 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $99.54, for a total value of $446,536.44. Following the completion of the sale, the senior vice president directly owned 31,806 shares in the company, valued at $3,165,969.24. This trade represents a 12.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,162 shares of company stock worth $5,080,646 over the last quarter. 1.77% of the stock is currently owned by company insiders.
Itron Company Profile
Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.
Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.
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