Peregrine Capital Management LLC Reduces Stake in Itron, Inc. (NASDAQ:ITRI)

Peregrine Capital Management LLC lessened its stake in Itron, Inc. (NASDAQ:ITRI) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,788 shares of the scientific and technical instruments company’s stock after selling 7,390 shares during the period. Peregrine Capital Management LLC owned about 0.19% of Itron worth $9,098,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ITRI. Erste Asset Management GmbH purchased a new stake in Itron in the 3rd quarter worth approximately $38,534,000. Assenagon Asset Management S.A. raised its stake in Itron by 90.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after purchasing an additional 243,355 shares during the last quarter. Franklin Resources Inc. raised its stake in Itron by 611.9% in the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after purchasing an additional 243,102 shares during the last quarter. Banco Santander S.A. increased its stake in shares of Itron by 4,133.3% in the 3rd quarter. Banco Santander S.A. now owns 190,500 shares of the scientific and technical instruments company’s stock worth $20,347,000 after acquiring an additional 186,000 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Itron by 41.6% in the 3rd quarter. Victory Capital Management Inc. now owns 283,728 shares of the scientific and technical instruments company’s stock worth $30,305,000 after acquiring an additional 83,328 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Price Performance

Itron stock opened at $97.00 on Tuesday. Itron, Inc. has a 12 month low of $73.64 and a 12 month high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The business has a 50 day simple moving average of $106.86 and a 200-day simple moving average of $106.89. The stock has a market capitalization of $4.37 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46.

Analysts Set New Price Targets

Several analysts recently issued reports on ITRI shares. Roth Mkm boosted their price objective on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler boosted their price objective on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen boosted their target price on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

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.