Headlands Technologies LLC Acquires Shares of 9,604 Itron, Inc. (NASDAQ:ITRI)

Headlands Technologies LLC bought a new stake in shares of Itron, Inc. (NASDAQ:ITRI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,604 shares of the scientific and technical instruments company’s stock, valued at approximately $1,043,000.

Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC grew its stake in Itron by 42.1% in the third 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 in the last quarter. Quarry LP grew its stake in shares of Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after buying an additional 102 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Itron in the fourth quarter worth approximately $67,000. Contravisory Investment Management Inc. raised its position in Itron by 154.9% during 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 acquiring an additional 525 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock valued at $97,000 after acquiring an additional 688 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Itron

In other Itron news, CAO David Marshall Wright sold 317 shares of the business’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 $29,449.30. Following the sale, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at $753,233.20. The trade was a 3.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Christopher E. Ware sold 648 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by corporate insiders.

Itron Stock Up 1.1 %

ITRI stock opened at $105.92 on Wednesday. The business’s 50-day simple moving average is $104.18 and its 200 day simple moving average is $108.07. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company has a market cap of $4.83 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. Itron, Inc. has a twelve month low of $87.91 and a twelve month high of $124.90.

Wall Street Analysts Forecast Growth

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

Itron 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.