Itron, Inc. (NASDAQ:ITRI) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,774 shares of the scientific and technical instruments company's stock after selling 3,090 shares during the period. Alliancebernstein L.P. owned about 0.13% of Itron worth $6,599,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company's stock valued at $114,835,000 after acquiring an additional 5,630 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Itron by 78.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company's stock valued at $660,000 after purchasing an additional 2,671 shares during the period. Intech Investment Management LLC increased its stake in Itron by 112.7% in the fourth quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company's stock valued at $4,491,000 after purchasing an additional 21,919 shares during the last quarter. Wellington Management Group LLP lifted its position in Itron by 180.7% during the fourth quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock worth $36,197,000 after buying an additional 214,600 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Itron in the 4th quarter worth about $301,000. Hedge funds and other institutional investors own 96.19% of the company's stock.

Insiders Place Their Bets

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the transaction, the director now owns 5,630 shares in the company, valued at $603,930.10. The trade was a 11.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the firm's stock in a transaction dated 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 $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock worth $385,815 in the last 90 days. 1.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $133.00 price target on shares of Itron in a research note on Thursday. Piper Sandler boosted their price objective on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Finally, Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $127.64.

Itron Stock Up 1.6 %

Shares of ITRI stock traded up $1.61 during trading hours on Friday, reaching $103.26. The company had a trading volume of 507,208 shares, compared to its average volume of 570,721. The company has a market capitalization of $4.71 billion, a P/E ratio of 21.16, a price-to-earnings-growth 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. Itron, Inc. has a twelve month low of $88.92 and a twelve month high of $124.90. The stock's fifty day simple moving average is $102.16 and its 200 day simple moving average is $107.41.

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.