Itron, Inc. (NASDAQ:ITRI) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,076 shares of the scientific and technical instruments company's stock after purchasing an additional 3,132 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Itron worth $3,809,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Integrated Quantitative Investments LLC acquired a new position in shares of Itron during the 4th quarter worth about $1,306,000. Headlands Technologies LLC acquired a new position in shares of Itron during the fourth quarter valued at approximately $1,043,000. Franklin Resources Inc. lifted its position in shares of Itron by 22.8% in the fourth quarter. Franklin Resources Inc. now owns 347,203 shares of the scientific and technical instruments company's stock valued at $37,699,000 after acquiring an additional 64,375 shares in the last quarter. Wellington Management Group LLP increased its position in shares of 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 purchasing an additional 214,600 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Itron by 3,119.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,410 shares of the scientific and technical instruments company's stock worth $471,000 after purchasing an additional 4,273 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the transaction, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ITRI has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Piper Sandler lifted their target price on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.

Itron Stock Up 0.4 %

Shares of Itron stock traded up $0.41 during trading hours on Wednesday, hitting $111.29. The company had a trading volume of 755,521 shares, compared to its average volume of 573,345. The company's 50-day moving average is $103.93 and its two-hundred day moving average is $107.49. Itron, Inc. has a twelve month low of $90.03 and a twelve 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 company has a market cap of $5.07 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.

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.