Itron, Inc. (NASDAQ:ITRI) Stake Boosted by Schroder Investment Management Group

Schroder Investment Management Group boosted its holdings in Itron, Inc. (NASDAQ:ITRI) by 42.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,526 shares of the scientific and technical instruments company’s stock after purchasing an additional 75,166 shares during the quarter. Schroder Investment Management Group’s holdings in Itron were worth $27,528,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ITRI. Norges Bank acquired a new stake in shares of Itron during the 4th quarter worth approximately $64,615,000. Bowen Hanes & Co. Inc. acquired a new stake in Itron in the fourth quarter worth $27,486,000. Franklin Resources Inc. lifted its stake in Itron by 611.9% in the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after buying an additional 243,102 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Itron by 85.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company’s stock valued at $46,199,000 after acquiring an additional 196,396 shares during the period. Finally, Soros Fund Management LLC grew its position in shares of Itron by 38.9% during the third quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company’s stock worth $29,373,000 after acquiring an additional 77,050 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction 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 sale, the director now directly owns 5,630 shares of the company’s stock, valued at $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joan S. Hooper sold 2,322 shares of the company’s stock in a transaction on Monday, February 24th. The shares were 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 represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,037 shares of company stock worth $385,815 in the last ninety days. 1.51% of the stock is currently owned by corporate insiders.

Itron Price Performance

Shares of Itron stock opened at $107.36 on Thursday. Itron, Inc. has a 52 week low of $88.87 and a 52 week high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a market cap of $4.89 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The company’s 50-day moving average price is $104.20 and its two-hundred day moving average price is $108.07.

Analysts Set New Price Targets

A number of research analysts have issued reports on ITRI shares. 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. Piper Sandler lifted their price target on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Oppenheimer increased their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report 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. Finally, Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.64.

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.