Handelsbanken Fonder AB Trims Stock Position in Itron, Inc. (NASDAQ:ITRI)

Handelsbanken Fonder AB trimmed its holdings in Itron, Inc. (NASDAQ:ITRI) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 899,289 shares of the scientific and technical instruments company’s stock after selling 500 shares during the period. Handelsbanken Fonder AB’s holdings in Itron were worth $97,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRI. Geode Capital Management LLC grew its holdings in shares of Itron by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after purchasing an additional 5,630 shares during the period. Assenagon Asset Management S.A. boosted its stake in Itron by 90.7% during the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after buying an additional 243,355 shares during the period. Vontobel Holding Ltd. increased its position in shares of Itron by 8.1% during the fourth quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock valued at $50,467,000 after acquiring an additional 34,842 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Itron by 9.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $42,550,000 after acquiring an additional 34,014 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Itron during the 3rd quarter worth approximately $38,534,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Price Performance

Shares of NASDAQ ITRI opened at $97.81 on Thursday. The stock has a market cap of $4.41 billion, a P/E ratio of 20.04, a P/E/G ratio of 0.80 and a beta of 1.46. Itron, Inc. has a twelve month low of $73.64 and a twelve month high of $124.90. The stock has a 50 day moving average of $106.24 and a two-hundred day moving average of $106.80. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

Wall Street Analyst Weigh In

Several equities analysts have commented on ITRI shares. Oppenheimer raised their price target on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Guggenheim increased their price target on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Roth Mkm boosted their price objective on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler raised their target price on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Robert W. Baird boosted their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Itron has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Itron 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.