Headlands Technologies LLC Makes New $1.04 Million Investment in Itron, Inc. (NASDAQ:ITRI)

Headlands Technologies LLC purchased a new stake in Itron, Inc. (NASDAQ:ITRI) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 9,604 shares of the scientific and technical instruments company’s stock, valued at approximately $1,043,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Itron during the fourth quarter valued at $64,615,000. Bowen Hanes & Co. Inc. bought a new stake in shares of Itron during the 4th quarter valued at about $27,486,000. Franklin Resources Inc. boosted its stake in Itron by 611.9% in the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after acquiring an additional 243,102 shares during the period. Wellington Management Group LLP grew its holdings in shares of 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 last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Itron by 85.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company’s stock worth $46,199,000 after purchasing an additional 196,396 shares during the period. 96.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ITRI shares. Canaccord Genuity Group raised their target price on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Piper Sandler boosted their target price on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Oppenheimer boosted their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Guggenheim decreased their price objective on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Stock Performance

Shares of ITRI opened at $105.92 on Wednesday. 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 firm’s 50 day moving average is $104.18 and its 200-day moving average is $108.07. Itron, Inc. has a 12-month low of $87.91 and a 12-month high of $124.90. The stock has a market capitalization of $4.83 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.81 and a beta of 1.49.

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 648 shares of the firm’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 value of $60,199.20. Following the completion of the transaction, the senior vice president now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at $753,233.20. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. Corporate insiders own 1.45% of the company’s stock.

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.