Freedom Investment Management Inc. Increases Stock Position in Itron, Inc. (NASDAQ:ITRI)

Freedom Investment Management Inc. grew its stake in Itron, Inc. (NASDAQ:ITRI) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,242 shares of the scientific and technical instruments company’s stock after buying an additional 593 shares during the period. Freedom Investment Management Inc.’s holdings in Itron were worth $1,438,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC grew its position in Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 229 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Itron by 0.9% in the 4th quarter. Marshall Wace LLP now owns 169,398 shares of the scientific and technical instruments company’s stock valued at $18,393,000 after purchasing an additional 1,594 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Itron during the 4th quarter valued at $229,000. Mariner LLC raised its position in Itron by 6.3% in the 4th quarter. Mariner LLC now owns 3,448 shares of the scientific and technical instruments company’s stock worth $374,000 after purchasing an additional 204 shares during the period. Finally, Summit Investment Advisors Inc. boosted its position in Itron by 3.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company’s stock valued at $513,000 after buying an additional 140 shares during the period. Institutional investors own 96.19% of the company’s stock.

Insider Transactions at Itron

In other news, CAO David Marshall Wright sold 317 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 value of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This represents a 3.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of Itron 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 directly owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,037 shares of company stock valued at $385,815. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ITRI shares. Guggenheim restated a “buy” rating and set a $133.00 target price on shares of Itron in a report on Thursday. Oppenheimer lifted their target price on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Piper Sandler upped their price target on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Finally, Canaccord Genuity Group upped their price objective 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. Three 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, Itron currently has an average rating of “Moderate Buy” and an average price target of $127.64.

Itron Price Performance

ITRI stock opened at $103.26 on Friday. The firm has a 50-day moving average of $102.16 and a 200 day moving average of $107.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The company has a market cap of $4.71 billion, a P/E ratio of 21.16, a PEG ratio of 0.81 and a beta of 1.39. Itron, Inc. has a 1 year low of $88.92 and a 1 year high of $124.90.

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.