Millennium Management LLC Sells 12,963 Shares of Itron, Inc. (NASDAQ:ITRI)

Millennium Management LLC lessened its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,717 shares of the scientific and technical instruments company's stock after selling 12,963 shares during the period. Millennium Management LLC owned 0.64% of Itron worth $31,457,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its position in shares of Itron by 78.3% during 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 during the last quarter. Intech Investment Management LLC raised its position in shares of Itron by 112.7% during the 4th 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 acquiring an additional 21,919 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Itron by 180.7% during the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock valued at $36,197,000 after acquiring an additional 214,600 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Itron during the 4th quarter valued at $301,000. Finally, HighTower Advisors LLC raised its position in shares of Itron by 143.2% during the 4th quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company's stock valued at $799,000 after acquiring an additional 4,331 shares during the last quarter. Institutional investors own 96.19% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on ITRI shares. Wall Street Zen upgraded shares of Itron from a "hold" rating to a "buy" rating in a research report on Saturday. Piper Sandler dropped their target price 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. Canaccord Genuity Group upped their target price 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. Oppenheimer upped their target price 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. Finally, Guggenheim restated a "buy" rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $127.36.

Itron Stock Up 0.3%

NASDAQ ITRI traded up $0.36 on Friday, reaching $112.63. The company had a trading volume of 363,493 shares, compared to its average volume of 574,874. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31. 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 1-year low of $90.11 and a 1-year high of $124.90. The company's fifty day moving average is $106.18 and its 200-day moving average is $107.90.

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

Insider Buying and Selling

In other news, SVP Christopher E. Ware sold 648 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the transaction, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the transaction, the director now owns 5,630 shares of the company's stock, valued at $603,930.10. The trade was a 11.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,187 shares of company stock valued at $945,620. Company insiders own 1.45% of the company's stock.

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.