Oppenheimer & Co. Inc. Boosts Holdings in Itron, Inc. (NASDAQ:ITRI)

Oppenheimer & Co. Inc. lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,387 shares of the scientific and technical instruments company’s stock after acquiring an additional 765 shares during the period. Oppenheimer & Co. Inc.’s holdings in Itron were worth $2,214,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC boosted its holdings in shares of Itron by 105.9% in the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock valued at $2,077,000 after purchasing an additional 10,001 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after buying an additional 5,630 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Itron by 78.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after acquiring an additional 2,671 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new stake in Itron during the third quarter valued at about $5,994,000. Finally, Systematic Financial Management LP increased its stake in Itron by 12.2% during the third quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company’s stock worth $14,351,000 after acquiring an additional 14,590 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. This trade represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the sale, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by corporate insiders.

Itron Stock Performance

Itron stock opened at $108.89 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The firm’s fifty day moving average price is $104.96 and its 200 day moving average price is $107.02. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. Itron, Inc. has a 12-month low of $86.13 and a 12-month high of $124.90.

Analysts Set New Price Targets

ITRI has been the subject of a number of research reports. Canaccord Genuity Group boosted their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Guggenheim decreased their price objective on shares of Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler increased their price objective on shares of Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s 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.