NEOS Investment Management LLC Acquires New Holdings in Itron, Inc. (NASDAQ:ITRI)

NEOS Investment Management LLC bought a new position in Itron, Inc. (NASDAQ:ITRI) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,100 shares of the scientific and technical instruments company’s stock, valued at approximately $554,000.

Several other hedge funds also recently modified their holdings of the business. EntryPoint Capital LLC boosted its holdings in Itron by 53.3% in the fourth quarter. EntryPoint Capital LLC now owns 5,800 shares of the scientific and technical instruments company’s stock worth $630,000 after purchasing an additional 2,017 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Itron during the 4th quarter worth about $1,021,000. Quantbot Technologies LP bought a new stake in shares of Itron during the 4th quarter worth about $964,000. Millstone Evans Group LLC acquired a new position in shares of Itron during the 4th quarter valued at about $325,000. Finally, Teacher Retirement System of Texas lifted its holdings in Itron by 28.8% in the 4th quarter. Teacher Retirement System of Texas now owns 25,822 shares of the scientific and technical instruments company’s stock worth $2,804,000 after purchasing an additional 5,780 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Stock Performance

NASDAQ ITRI opened at $103.82 on Monday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 0.81 and a beta of 1.49. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 1-year low of $87.91 and a 1-year high of $124.90. The company has a 50 day moving average of $104.21 and a 200-day moving average of $108.01.

Analyst Upgrades and Downgrades

ITRI has been the subject of several research analyst reports. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Canaccord Genuity Group increased their target price 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 lowered their price target on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Piper Sandler raised their price objective on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Oppenheimer boosted their price objective on Itron from $124.00 to $131.00 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.64.

Insider Activity at Itron

In related news, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the transaction, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. This represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $80,452.50. Following the completion of the sale, the director now owns 5,630 shares of the company’s stock, valued at $603,930.10. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock valued at $385,815 in the last three months. Corporate insiders own 1.45% 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.