Ieq Capital LLC Makes New Investment in Itron, Inc. (NASDAQ:ITRI)

Ieq Capital LLC acquired a new stake in Itron, Inc. (NASDAQ:ITRI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,883 shares of the scientific and technical instruments company’s stock, valued at approximately $965,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ITRI. Geode Capital Management LLC raised its position in Itron by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Itron by 8.1% in the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock valued at $50,467,000 after purchasing an additional 34,842 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Itron by 9.3% during the third quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $42,550,000 after buying an additional 34,014 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Itron during the third quarter valued at $38,534,000. Finally, Victory Capital Management Inc. grew its position in Itron by 41.6% during the third quarter. Victory Capital Management Inc. now owns 283,728 shares of the scientific and technical instruments company’s stock valued at $30,305,000 after buying an additional 83,328 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Activity

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of the company’s stock in a transaction 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 directly owns 92,076 shares in the company, valued at $8,553,860.40. This represents a 2.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Marshall Wright sold 317 shares of Itron 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 transaction, the chief accounting officer now owns 8,108 shares in the company, valued at approximately $753,233.20. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,287 shares of company stock worth $305,362 over the last three months. Insiders own 1.45% of the company’s stock.

Itron Trading Up 9.9 %

Shares of ITRI stock opened at $101.81 on Wednesday. Itron, Inc. has a fifty-two week low of $83.60 and a fifty-two week high of $124.90. 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’s fifty day moving average is $104.99 and its two-hundred day moving average is $106.84. The firm has a market capitalization of $4.59 billion, a P/E ratio of 20.86, a PEG ratio of 0.81 and a beta of 1.46.

Analyst Ratings Changes

ITRI has been the topic of several recent analyst reports. Robert W. Baird increased their target price on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Oppenheimer upped their price target on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Guggenheim upped their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Roth Mkm increased their target price on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.92.

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.