Itron, Inc. (NASDAQ:ITRI) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 180.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 333,363 shares of the scientific and technical instruments company's stock after buying an additional 214,600 shares during the quarter. Wellington Management Group LLP owned 0.73% of Itron worth $36,197,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Itron by 41.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,955 shares of the scientific and technical instruments company's stock valued at $321,000 after buying an additional 867 shares during the period. Menard Financial Group LLC lifted its stake in Itron by 12.2% during the fourth quarter. Menard Financial Group LLC now owns 5,684 shares of the scientific and technical instruments company's stock worth $617,000 after purchasing an additional 619 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Itron during the fourth quarter worth approximately $14,563,000. Virtue Capital Management LLC lifted its stake in Itron by 5.4% during the fourth quarter. Virtue Capital Management LLC now owns 8,249 shares of the scientific and technical instruments company's stock worth $896,000 after purchasing an additional 419 shares during the last quarter. Finally, GTS Securities LLC purchased a new stake in Itron during the fourth quarter worth approximately $288,000. Hedge funds and other institutional investors own 96.19% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ITRI. Wall Street Zen lowered Itron from a "buy" rating to a "hold" rating in a research report on Sunday. Piper Sandler cut their price target on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Oppenheimer lifted their price target on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $133.00 price target on shares of Itron in a research report on Thursday, April 17th. Finally, Canaccord Genuity Group lifted their price target on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.36.

Insiders Place Their Bets

In other news, SVP Christopher E. Ware sold 339 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $38,968.05. Following the sale, the senior vice president now directly owns 19,468 shares in the company, valued at $2,237,846.60. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joan S. Hooper sold 938 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $107,823.10. Following the completion of the transaction, the chief financial officer now owns 89,364 shares of the company's stock, valued at $10,272,391.80. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,086 shares of company stock worth $897,298. 1.45% of the stock is owned by corporate insiders.

Itron Price Performance

ITRI stock traded up $0.24 on Wednesday, reaching $119.74. 119,848 shares of the company's stock were exchanged, compared to its average volume of 577,986. The stock has a fifty day moving average of $107.32 and a 200-day moving average of $107.65. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $124.90. The firm has a market cap of $5.46 billion, a PE ratio of 24.54, a P/E/G ratio of 0.81 and a beta of 1.31. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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

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.