Illinois Municipal Retirement Fund Purchases 409 Shares of Itron, Inc. (NASDAQ:ITRI)

Illinois Municipal Retirement Fund increased its position in Itron, Inc. (NASDAQ:ITRI) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,806 shares of the scientific and technical instruments company’s stock after purchasing an additional 409 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Itron worth $2,693,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Erste Asset Management GmbH acquired a new position in Itron during the third quarter worth approximately $38,534,000. Franklin Resources Inc. increased its holdings in shares of Itron by 611.9% during the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock worth $31,128,000 after acquiring an additional 243,102 shares during the last quarter. Banco Santander S.A. raised its stake in Itron by 4,133.3% in the 3rd quarter. Banco Santander S.A. now owns 190,500 shares of the scientific and technical instruments company’s stock valued at $20,347,000 after acquiring an additional 186,000 shares during the period. Victory Capital Management Inc. lifted its holdings in Itron by 41.6% during the 3rd 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 purchasing an additional 83,328 shares during the last quarter. Finally, Soros Fund Management LLC boosted its position in Itron by 38.9% during the third quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company’s stock worth $29,373,000 after purchasing an additional 77,050 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Performance

NASDAQ:ITRI opened at $106.89 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a fifty-two week low of $86.13 and a fifty-two week high of $124.90. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 0.81 and a beta of 1.46. The stock has a fifty day moving average price of $104.98 and a 200-day moving average price of $106.85.

Insider Buying and Selling

In other Itron news, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. The trade was a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at $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 3,287 shares of company stock valued at $305,362 over the last quarter. 1.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ITRI. Piper Sandler raised their target price on shares of Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird raised their price objective on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com upgraded Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Oppenheimer lifted their price target on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.64.

About Itron

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.