Illumine Investment Management LLC Buys New Holdings in Itron, Inc. (NASDAQ:ITRI)

Illumine Investment Management LLC purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,975 shares of the scientific and technical instruments company’s stock, valued at approximately $757,000.

A number of other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new position in shares of Itron during the 4th quarter worth approximately $30,000. Continuum Advisory LLC lifted its holdings in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 102 shares during the last quarter. Quarry LP increased its holdings in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 102 shares during the last quarter. Covestor Ltd raised its position in shares of Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares during the period. Finally, Hager Investment Management Services LLC bought a new stake in shares of Itron during the 4th quarter worth about $67,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ITRI shares. Guggenheim lowered their target price on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler increased their price objective on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen upped their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Roth Mkm boosted their price objective on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com raised shares of Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Itron presently has an average rating of “Moderate Buy” and an average target price of $127.64.

Insiders Place Their Bets

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of the 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 in the company, valued at $8,553,860.40. This trade represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher E. Ware sold 648 shares of the company’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 transaction of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares in the company, valued at $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 have sold 3,287 shares of company stock valued at $305,362 in the last three months. 1.45% of the stock is currently owned by insiders.

Itron Price Performance

ITRI stock opened at $106.89 on Friday. The company has a market capitalization of $4.82 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. Itron, Inc. has a 52-week low of $86.13 and a 52-week high of $124.90. The business has a 50-day simple moving average of $104.98 and a two-hundred day simple moving average of $106.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

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.