Legato Capital Management LLC Acquires 1,923 Shares of Itron, Inc. (NASDAQ:ITRI)

Legato Capital Management LLC increased its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,057 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,923 shares during the period. Legato Capital Management LLC’s holdings in Itron were worth $1,961,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ITRI. Truist Financial Corp increased its stake in Itron by 27.5% in the second quarter. Truist Financial Corp now owns 3,475 shares of the scientific and technical instruments company’s stock worth $344,000 after purchasing an additional 750 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Itron in the second quarter worth about $239,000. CWM LLC increased its stake in Itron by 150.1% in the 3rd quarter. CWM LLC now owns 2,203 shares of the scientific and technical instruments company’s stock worth $235,000 after buying an additional 1,322 shares during the period. Creative Planning increased its stake in Itron by 17.1% in the 3rd quarter. Creative Planning now owns 15,677 shares of the scientific and technical instruments company’s stock worth $1,674,000 after buying an additional 2,284 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Itron by 1.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock valued at $45,922,000 after buying an additional 6,310 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

ITRI stock opened at $98.50 on Wednesday. Itron, Inc. has a one year low of $71.72 and a one year high of $124.90. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.88 and a beta of 1.46. 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 $108.35 and a two-hundred day simple moving average of $107.07.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ITRI. TD Cowen upped their target price on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Roth Mkm lifted their target price on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Guggenheim upped their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their price target on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

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.