Summit Investment Advisors Inc. Buys 140 Shares of Itron, Inc. (NASDAQ:ITRI)

Summit Investment Advisors Inc. lifted its stake in Itron, Inc. (NASDAQ:ITRI) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,726 shares of the scientific and technical instruments company’s stock after purchasing an additional 140 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Itron were worth $513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Itron by 8.4% in the third quarter. HighTower Advisors LLC now owns 3,024 shares of the scientific and technical instruments company’s stock valued at $321,000 after acquiring an additional 234 shares during the period. Stifel Financial Corp boosted its position in shares of Itron by 2.2% during the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock valued at $526,000 after buying an additional 108 shares during the period. MML Investors Services LLC grew its stake in shares of Itron by 5.5% during the third quarter. MML Investors Services LLC now owns 3,226 shares of the scientific and technical instruments company’s stock valued at $345,000 after buying an additional 168 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Itron by 454.7% during the third quarter. Sanctuary Advisors LLC now owns 13,862 shares of the scientific and technical instruments company’s stock valued at $1,481,000 after buying an additional 11,363 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of 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 worth $31,128,000 after buying an additional 243,102 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Activity at Itron

In other Itron news, 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 value of $80,452.50. Following the completion of the sale, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock valued at $385,815 over the last 90 days. Insiders own 1.45% of the company’s stock.

Itron Stock Performance

ITRI stock opened at $103.26 on Friday. Itron, Inc. has a one year low of $88.92 and a one year high of $124.90. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 0.81 and a beta of 1.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The firm has a 50-day simple moving average of $102.16 and a two-hundred day simple moving average of $107.41.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Piper Sandler upped their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Guggenheim restated a “buy” rating and issued a $133.00 price target on shares of Itron in a report on Thursday. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Oppenheimer upped their target price on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group lifted their price target on shares of Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Itron presently has a consensus rating of “Moderate Buy” and an average price target of $127.64.

Itron Company 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.