Advisors Asset Management Inc. Acquires 1,465 Shares of Itron, Inc. (NASDAQ:ITRI)

Advisors Asset Management Inc. boosted its position in shares of Itron, Inc. (NASDAQ:ITRI) by 5.3% in the 4th quarter, HoldingsChannel reports. The firm owned 29,084 shares of the scientific and technical instruments company’s stock after buying an additional 1,465 shares during the period. Advisors Asset Management Inc.’s holdings in Itron were worth $3,158,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC lifted its holdings in Itron by 37.6% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 3,621 shares of the scientific and technical instruments company’s stock valued at $393,000 after purchasing an additional 989 shares during the last quarter. Cibc World Markets Corp bought a new position in Itron during the 4th quarter valued at about $459,000. Corient Private Wealth LLC lifted its holdings in Itron by 12.9% during the 4th quarter. Corient Private Wealth LLC now owns 4,263 shares of the scientific and technical instruments company’s stock valued at $463,000 after purchasing an additional 488 shares during the last quarter. Bowen Hanes & Co. Inc. bought a new position in Itron during the 4th quarter valued at about $27,486,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Itron by 213.3% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 14,429 shares of the scientific and technical instruments company’s stock valued at $1,578,000 after purchasing an additional 9,823 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Itron

In other 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 value of $80,452.50. Following the completion of the transaction, the director now owns 5,630 shares in the company, valued at $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at $753,233.20. This trade represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by company insiders.

Itron Stock Down 1.0 %

Shares of NASDAQ:ITRI opened at $105.76 on Friday. Itron, Inc. has a one year low of $87.91 and a one year high of $124.90. The company has a 50 day moving average of $104.00 and a 200-day moving average of $107.56. 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 stock has a market cap of $4.78 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 0.81 and a beta of 1.49.

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.