Saturna Capital Corp Buys 2,768 Shares of Itron, Inc. (NASDAQ:ITRI)

Saturna Capital Corp raised its stake in Itron, Inc. (NASDAQ:ITRI) by 38.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,981 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,768 shares during the quarter. Saturna Capital Corp’s holdings in Itron were worth $1,084,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ITRI. Proficio Capital Partners LLC bought a new position in shares of Itron during the fourth quarter worth approximately $30,000. Continuum Advisory LLC increased its position in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 102 shares during the period. Quarry LP lifted its holdings in shares of Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Itron by 26.1% during the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 111 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in shares of Itron in the fourth quarter valued at about $67,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Itron

In other news, CAO David Marshall Wright sold 317 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 $29,449.30. Following the completion of the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. This represents a 3.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the firm’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 $60,199.20. Following the sale, the senior vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ITRI. Canaccord Genuity Group lifted their price objective 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. Piper Sandler lifted their price target on shares of 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 research note on Saturday, March 1st. Guggenheim lowered their price objective 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, Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Stock Performance

Itron stock opened at $103.31 on Wednesday. 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 stock has a market cap of $4.67 billion, a PE ratio of 21.17, a P/E/G ratio of 0.81 and a beta of 1.49. Itron, Inc. has a 12-month low of $86.13 and a 12-month high of $124.90. The business’s 50-day moving average price is $104.48 and its two-hundred day moving average price is $107.41.

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.