PDT Partners LLC Increases Stock Position in Itron, Inc. (NASDAQ:ITRI)

PDT Partners LLC grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,794 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,090 shares during the period. PDT Partners LLC’s holdings in Itron were worth $4,429,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ITRI. Hennion & Walsh Asset Management Inc. raised its position in shares of Itron by 78.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after buying an additional 2,671 shares in the last quarter. Intech Investment Management LLC increased its stake in Itron by 112.7% during the fourth quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company’s stock worth $4,491,000 after acquiring an additional 21,919 shares during the last quarter. Wellington Management Group LLP raised its position in Itron by 180.7% during the fourth quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company’s stock valued at $36,197,000 after purchasing an additional 214,600 shares during the period. Merit Financial Group LLC bought a new stake in shares of Itron in the 4th quarter valued at approximately $301,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Itron by 143.2% in the 4th quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company’s stock worth $799,000 after purchasing an additional 4,331 shares during the period. 96.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. Canaccord Genuity Group upped their price target on shares of Itron from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Piper Sandler upped their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Oppenheimer lifted 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.64.

Itron Stock Performance

Shares of Itron stock opened at $109.10 on Tuesday. Itron, Inc. has a 12 month low of $90.03 and a 12 month high of $124.90. The stock’s fifty day moving average price is $103.32 and its 200-day moving average price is $107.44. The firm has a market cap of $4.97 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.81 and a beta of 1.39. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

Insider Buying and Selling at Itron

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of the business’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 transaction, the director now directly owns 5,630 shares in the company, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the firm’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,037 shares of company stock valued at $385,815. Company 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.