Bank Julius Baer & Co. Ltd Zurich Raises Position in Itron, Inc. (NASDAQ:ITRI)

Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 7.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,081 shares of the scientific and technical instruments company’s stock after purchasing an additional 213 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Itron were worth $369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ITRI. Proficio Capital Partners LLC purchased a new stake in Itron during the 4th quarter valued at $30,000. Continuum Advisory LLC lifted its holdings in shares of Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 102 shares in the last quarter. Quarry LP boosted its position in shares of Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after buying an additional 102 shares during the last quarter. Covestor Ltd increased its holdings in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 111 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in Itron in the 4th quarter worth about $67,000. Institutional investors own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ITRI shares. Canaccord Genuity Group raised 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. 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 report on Thursday, February 27th. Guggenheim decreased their target price on shares of Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Finally, Oppenheimer upped their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.64.

Insider Transactions at Itron

In related news, CAO David Marshall Wright sold 317 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now owns 8,108 shares in the company, valued at approximately $753,233.20. This trade represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the sale, the director now directly owns 5,630 shares in the company, valued at $603,930.10. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock valued at $385,815 over the last three months. Corporate insiders own 1.45% of the company’s stock.

Itron Trading Down 2.0 %

Itron stock opened at $103.72 on Tuesday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 12-month low of $86.13 and a 12-month high of $124.90. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 0.81 and a beta of 1.49. The firm has a 50 day moving average of $104.60 and a 200 day moving average of $107.39.

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.