Quantbot Technologies LP Makes New Investment in Itron, Inc. (NASDAQ:ITRI)

Quantbot Technologies LP acquired a new stake in Itron, Inc. (NASDAQ:ITRI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,878 shares of the scientific and technical instruments company’s stock, valued at approximately $964,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Proficio Capital Partners LLC bought a new stake in shares of Itron in the 4th quarter worth about $30,000. Continuum Advisory LLC raised its position in Itron by 42.1% in 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 lifted its stake 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 purchasing an additional 102 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Itron during the fourth quarter valued at approximately $67,000. Finally, Contravisory Investment Management Inc. grew its stake in shares of 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 buying an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insiders Place Their Bets

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

Itron Stock Down 0.3 %

ITRI stock opened at $108.23 on Wednesday. The stock has a market capitalization of $4.93 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. Itron, Inc. has a 52 week low of $87.91 and a 52 week 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 firm has a 50 day moving average of $104.17 and a 200 day moving average of $107.85.

Analysts Set New Price Targets

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