EntryPoint Capital LLC Boosts Holdings in Itron, Inc. (NASDAQ:ITRI)

EntryPoint Capital LLC grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 53.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,800 shares of the scientific and technical instruments company’s stock after buying an additional 2,017 shares during the period. EntryPoint Capital LLC’s holdings in Itron were worth $630,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in shares of Itron during the fourth quarter worth about $30,000. Continuum Advisory LLC increased its position 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 worth $40,000 after purchasing an additional 102 shares during the period. Quarry LP increased its position in Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 102 shares during the period. Hager Investment Management Services LLC purchased a new position in shares of Itron during the 4th quarter worth approximately $67,000. Finally, Contravisory Investment Management Inc. boosted its stake in shares of Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Oppenheimer increased their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on shares of Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Piper Sandler lifted their price target on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Guggenheim decreased their price target on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.64.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $108.56 on Tuesday. Itron, Inc. has a one year low of $87.91 and a one year high of $124.90. The stock has a market cap of $4.95 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The business’s fifty day moving average price is $104.11 and its two-hundred day moving average price is $107.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Activity at Itron

In related news, Director Mary C. Hemmingsen sold 750 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at $8,553,860.40. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,037 shares of company stock valued at $385,815 over the last quarter. Insiders own 1.45% of the company’s stock.

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.