New Age Alpha Advisors LLC Makes New Investment in Itron, Inc. (NASDAQ:ITRI)

New Age Alpha Advisors LLC purchased a new stake in Itron, Inc. (NASDAQ:ITRI) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 5,083 shares of the scientific and technical instruments company’s stock, valued at approximately $552,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ITRI. Continuum Advisory LLC lifted its stake in Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 102 shares during the period. Quarry LP boosted its stake in Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 102 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Itron during the fourth quarter valued at approximately $67,000. Contravisory Investment Management Inc. increased its stake in Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 525 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 688 shares during the period. 96.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITRI has been the subject of several research analyst reports. Canaccord Genuity Group boosted 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. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Piper Sandler increased their target price on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Finally, Guggenheim reduced their price target on shares of Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.64.

Insiders Place Their Bets

In related news, CFO Joan S. Hooper sold 2,322 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the transaction, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,037 shares of company stock valued at $385,815 in the last three months. 1.45% of the stock is currently owned by corporate insiders.

Itron Stock Performance

Shares of ITRI stock opened at $104.76 on Tuesday. Itron, Inc. has a 12 month low of $87.91 and a 12 month high of $124.90. The company’s fifty day simple moving average is $104.20 and its 200-day simple moving average is $108.05. The firm has a market cap of $4.77 billion, a PE ratio of 21.47, a P/E/G ratio of 0.81 and a beta of 1.49. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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.