Voya Investment Management LLC Boosts Stock Position in Itron, Inc. (NASDAQ:ITRI)

Voya Investment Management LLC increased its position in Itron, Inc. (NASDAQ:ITRI) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,856 shares of the scientific and technical instruments company’s stock after acquiring an additional 10,673 shares during the quarter. Voya Investment Management LLC owned about 0.22% of Itron worth $10,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITRI. First Trust Advisors LP increased its stake in shares of Itron by 9.1% in the fourth quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock worth $87,145,000 after purchasing an additional 66,637 shares in the last quarter. Norges Bank bought a new position in Itron in the 4th quarter worth $64,615,000. Vontobel Holding Ltd. increased its stake in Itron by 8.1% in the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock worth $50,467,000 after buying an additional 34,842 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Itron by 85.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company’s stock valued at $46,199,000 after acquiring an additional 196,396 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Itron by 3.1% in the fourth quarter. Renaissance Technologies LLC now owns 350,461 shares of the scientific and technical instruments company’s stock valued at $38,053,000 after acquiring an additional 10,400 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

Shares of NASDAQ:ITRI opened at $109.10 on Tuesday. The firm has a fifty day simple moving average of $103.32 and a two-hundred day simple moving average of $107.44. Itron, Inc. has a 52 week low of $90.03 and a 52 week high of $124.90. 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 capitalization of $4.97 billion, a P/E ratio of 22.36, a PEG ratio of 0.81 and a beta of 1.39.

Insider Buying and Selling

In other news, SVP Christopher E. Ware sold 648 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 $60,199.20. Following the sale, the senior vice president now owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was 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 owns 5,630 shares of the company’s stock, valued at $603,930.10. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,037 shares of company stock worth $385,815. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

ITRI has been the subject of several research analyst reports. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Piper Sandler increased their price objective on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Finally, StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.64.

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.