MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 2,577 Shares of Itron, Inc. (NASDAQ:ITRI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,991 shares of the scientific and technical instruments company's stock after selling 2,577 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.16% of Itron worth $7,600,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ITRI. Hennion & Walsh Asset Management Inc. increased its stake in shares of Itron by 78.3% in the 4th 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 acquiring an additional 2,671 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Itron in the 4th quarter valued at $301,000. Janney Montgomery Scott LLC grew its position in Itron by 45.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,674 shares of the scientific and technical instruments company's stock valued at $1,810,000 after purchasing an additional 5,249 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in Itron in the 4th quarter valued at $286,000. Finally, Moody Aldrich Partners LLC grew its position in Itron by 7.3% in the 4th quarter. Moody Aldrich Partners LLC now owns 43,053 shares of the scientific and technical instruments company's stock valued at $4,675,000 after purchasing an additional 2,945 shares during the period. Institutional investors own 96.19% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. 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 report on Wednesday, February 26th. Wall Street Zen downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Piper Sandler reduced their price target on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Guggenheim reissued a "buy" rating and issued a $133.00 price target on shares of Itron in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.36.

Itron Stock Up 0.3%

ITRI traded up $0.36 during mid-day trading on Friday, reaching $112.63. 363,493 shares of the stock were exchanged, compared to its average volume of 573,892. 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 stock has a market capitalization of $5.13 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31. The company has a 50 day moving average price of $106.18 and a two-hundred day moving average price of $108.00. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. The firm had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 EPS. As a group, research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction dated 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 owns 20,326 shares in the company, valued at approximately $1,888,285.40. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary C. Hemmingsen sold 5,150 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction of $559,805.00. Following the transaction, the director now owns 952 shares of the company's stock, valued at approximately $103,482.40. The trade was a 84.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,187 shares of company stock valued at $945,620 in the last three months. 1.45% of the stock is currently owned by insiders.

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.