Skandinaviska Enskilda Banken AB publ Has $1.58 Million Position in Itron, Inc. (NASDAQ:ITRI)

Skandinaviska Enskilda Banken AB publ increased its holdings in Itron, Inc. (NASDAQ:ITRI) by 213.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,429 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,823 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Itron were worth $1,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after purchasing an additional 5,630 shares during the period. Vontobel Holding Ltd. grew its position in Itron by 8.1% in 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 period. Erste Asset Management GmbH acquired a new position in Itron during the third quarter worth $38,534,000. Franklin Resources Inc. lifted its holdings in shares of Itron by 611.9% during 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. Finally, Soros Fund Management LLC boosted its stake in shares of Itron by 38.9% in the 3rd quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company’s stock valued at $29,373,000 after purchasing an additional 77,050 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Price Performance

Itron stock opened at $106.55 on Tuesday. The business’s 50-day simple moving average is $104.01 and its 200 day simple moving average is $107.51. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 0.81 and a beta of 1.49. Itron, Inc. has a 12-month low of $86.45 and a 12-month high of $124.90.

Insider Buying and Selling at Itron

In related news, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the sale, the director now directly owns 5,630 shares of the company’s stock, valued at $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Christopher E. Ware sold 648 shares of the 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 $60,199.20. Following the completion of the transaction, 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 three months, insiders have sold 4,037 shares of company stock worth $385,815. Company insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.