HighTower Advisors LLC Purchases 4,331 Shares of Itron, Inc. (NASDAQ:ITRI)

HighTower Advisors LLC grew its position in Itron, Inc. (NASDAQ:ITRI) by 143.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,355 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,331 shares during the period. HighTower Advisors LLC’s holdings in Itron were worth $799,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in Itron in the 4th quarter valued at $30,000. Continuum Advisory LLC increased its holdings in shares of Itron by 42.1% in 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 during the last quarter. Quarry LP increased its holdings in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 102 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Itron in the fourth quarter valued at about $67,000. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of 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. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ITRI. Oppenheimer increased their price target on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Piper Sandler increased their target price on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Guggenheim reduced their price target on 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 upped their price objective on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Three investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $127.64.

Insiders Place Their Bets

In other news, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction on Monday, February 24th. The stock was 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 approximately $753,233.20. The trade was a 3.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 5,630 shares in the company, valued at $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,037 shares of company stock worth $385,815 over the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Itron Stock Down 2.0 %

Shares of NASDAQ ITRI opened at $105.24 on Friday. Itron, Inc. has a 52 week low of $87.91 and a 52 week high of $124.90. The stock’s fifty day moving average is $104.24 and its 200 day moving average is $107.83. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The stock has a market capitalization of $4.80 billion, a P/E ratio of 21.57, a PEG ratio of 0.81 and a beta of 1.49.

About Itron

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.