Itron, Inc. (NASDAQ:ITRI) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia increased its stake in Itron, Inc. (NASDAQ:ITRI) by 0.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 209,908 shares of the scientific and technical instruments company’s stock after buying an additional 1,202 shares during the period. Bank of Nova Scotia’s holdings in Itron were worth $22,792,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in shares of Itron in the fourth quarter worth $30,000. Continuum Advisory LLC raised its stake in shares of Itron by 42.1% during 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 raised its position in Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 102 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Itron in the fourth quarter worth about $67,000. Finally, Contravisory Investment Management Inc. raised its holdings in Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock worth $94,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Trading Up 8.1 %

Shares of ITRI stock opened at $99.53 on Thursday. Itron, Inc. has a 12-month low of $88.87 and a 12-month high of $124.90. 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 business has a 50-day moving average price of $102.73 and a two-hundred day moving average price of $107.61. The firm has a market cap of $4.54 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.

Insiders Place Their Bets

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the sale, the director now owns 5,630 shares in the company, valued at approximately $603,930.10. This represents a 11.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at $8,553,860.40. The trade was a 2.46 % 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 worth $385,815. Company insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ITRI. Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Piper Sandler raised 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. Guggenheim cut 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, February 27th. Finally, StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and an average 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.