Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Posted by Defense World Staff on Feb 27th, 2023

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Itron, Inc. (NASDAQ:ITRI – Get Rating) by 22.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,878 shares of the scientific and technical instruments company’s stock after selling 9,478 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.07% of Itron worth $1,384,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of Itron by 230.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 845 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 589 shares during the period. Nisa Investment Advisors LLC grew its holdings in Itron by 122.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 600 shares in the last quarter. US Bancorp DE grew its holdings in Itron by 30.7% during the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Eagle Bay Advisors LLC grew its holdings in Itron by 106.3% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,407 shares of the scientific and technical instruments company’s stock valued at $70,000 after purchasing an additional 725 shares in the last quarter. Finally, FMR LLC grew its holdings in Itron by 73.0% during the 2nd quarter. FMR LLC now owns 1,543 shares of the scientific and technical instruments company’s stock valued at $76,000 after purchasing an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Insider Transactions at Itron

In related news, CFO Joan S. Hooper sold 1,089 shares of Itron stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $55.64, for a total value of $60,591.96. Following the sale, the chief financial officer now directly owns 49,320 shares in the company, valued at approximately $2,744,164.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Itron news, CFO Joan S. Hooper sold 1,089 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $55.64, for a total transaction of $60,591.96. Following the sale, the chief financial officer now directly owns 49,320 shares in the company, valued at approximately $2,744,164.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Deitrich sold 1,333 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $55.64, for a total transaction of $74,168.12. Following the sale, the chief executive officer now owns 145,664 shares in the company, valued at $8,104,744.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,708 shares of company stock worth $313,573. 1.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cowen raised their price target on shares of Itron from $55.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. StockNews.com raised shares of Itron from a “hold” rating to a “buy” rating in a report on Wednesday, December 14th. Morgan Stanley decreased their price objective on shares of Itron from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Raymond James decreased their price objective on shares of Itron from $68.00 to $57.00 and set a “strong-buy” rating for the company in a report on Friday, November 4th. Finally, EF Hutton Acquisition Co. I decreased their price objective on shares of Itron from $72.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Itron Trading Down 1.7 %

Itron stock opened at $54.63 on Monday. The firm’s 50-day moving average is $55.16 and its 200-day moving average is $51.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.61. Itron, Inc. has a 1 year low of $39.38 and a 1 year high of $60.61. The company has a market cap of $2.47 billion, a P/E ratio of -27.18 and a beta of 1.34.

Itron Profile

(Get Rating)

Itron, Inc is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems.