Swiss National Bank Trims Position in Itron, Inc. (NASDAQ:ITRI)

Swiss National Bank lessened its position in shares of Itron, Inc. (NASDAQ:ITRI) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,500 shares of the scientific and technical instruments company’s stock after selling 1,100 shares during the quarter. Swiss National Bank owned 0.20% of Itron worth $9,609,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Great Lakes Advisors LLC increased its position in Itron by 4.7% during the fourth quarter. Great Lakes Advisors LLC now owns 37,738 shares of the scientific and technical instruments company’s stock valued at $4,098,000 after acquiring an additional 1,696 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Itron by 5.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,394 shares of the scientific and technical instruments company’s stock worth $2,757,000 after buying an additional 1,268 shares in the last quarter. Saturna Capital Corp increased its position in Itron by 38.4% in the fourth quarter. Saturna Capital Corp now owns 9,981 shares of the scientific and technical instruments company’s stock worth $1,084,000 after buying an additional 2,768 shares in the last quarter. HighTower Advisors LLC increased its position in Itron by 143.2% in the fourth quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company’s stock worth $799,000 after buying an additional 4,331 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in Itron in the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ITRI shares. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Guggenheim reduced their price target on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Piper Sandler upped their price target on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Canaccord Genuity Group upped their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Insider Activity

In other news, SVP Christopher E. Ware sold 648 shares of the 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 $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 represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the 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 $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares in the company, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock valued at $385,815 in the last ninety days. Insiders own 1.45% of the company’s stock.

Itron Price Performance

NASDAQ:ITRI opened at $105.76 on Friday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 0.81 and a beta of 1.49. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90. The business has a 50 day simple moving average of $104.00 and a 200-day simple 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.

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.