CIBC Private Wealth Group LLC Has $471,000 Position in Itron, Inc. (NASDAQ:ITRI)

CIBC Private Wealth Group LLC grew its stake in Itron, Inc. (NASDAQ:ITRI) by 3,119.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,410 shares of the scientific and technical instruments company’s stock after buying an additional 4,273 shares during the period. CIBC Private Wealth Group LLC’s holdings in Itron were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Itron during the 4th quarter valued at approximately $64,615,000. Bowen Hanes & Co. Inc. acquired a new stake in shares of Itron during the fourth quarter worth $27,486,000. Franklin Resources Inc. raised its stake in Itron by 611.9% during the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock worth $31,128,000 after buying an additional 243,102 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Itron by 85.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company’s stock valued at $46,199,000 after buying an additional 196,396 shares during the period. Finally, Schroder Investment Management Group boosted its position in Itron by 42.1% during the fourth quarter. Schroder Investment Management Group now owns 253,526 shares of the scientific and technical instruments company’s stock valued at $27,528,000 after acquiring an additional 75,166 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Itron Price Performance

ITRI stock opened at $94.79 on Friday. The company has a market capitalization of $4.32 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. Itron, Inc. has a 52-week low of $88.87 and a 52-week high of $124.90. The business has a 50-day simple moving average of $103.81 and a two-hundred day simple moving average of $107.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Wall Street Analyst Weigh In

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

Insider Activity at Itron

In other Itron news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares in the company, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. The trade was a 3.76 % decrease in their position. 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 90 days. Insiders own 1.51% 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.