First Trust Advisors LP Buys 66,637 Shares of Itron, Inc. (NASDAQ:ITRI)

First Trust Advisors LP raised its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 802,584 shares of the scientific and technical instruments company's stock after purchasing an additional 66,637 shares during the quarter. First Trust Advisors LP owned approximately 1.78% of Itron worth $87,145,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ITRI. Norges Bank acquired a new stake in shares of Itron in the fourth quarter valued at approximately $64,615,000. Vontobel Holding Ltd. lifted its position in Itron by 8.1% during the fourth quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company's stock worth $50,467,000 after purchasing an additional 34,842 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Itron by 85.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock worth $46,199,000 after acquiring an additional 196,396 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Itron by 3.1% in the 4th quarter. Renaissance Technologies LLC now owns 350,461 shares of the scientific and technical instruments company's stock valued at $38,053,000 after purchasing an additional 10,400 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Itron by 22.8% in the 4th quarter. Franklin Resources Inc. now owns 347,203 shares of the scientific and technical instruments company's stock valued at $37,699,000 after purchasing an additional 64,375 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Insiders Place Their Bets

In other 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 completion of the sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. Company insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Piper Sandler increased 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. Guggenheim restated a "buy" rating and set a $133.00 price target on shares of Itron in a report on Thursday, April 17th. Finally, Oppenheimer lifted their target price on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.64.

Itron Trading Up 1.1 %

Shares of ITRI traded up $1.25 during trading hours on Friday, hitting $110.41. 484,767 shares of the stock were exchanged, compared to its average volume of 572,687. The firm has a market capitalization of $5.03 billion, a P/E ratio of 22.63, 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 current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a fifty-two week low of $90.03 and a fifty-two week high of $124.90. The business has a 50-day moving average of $103.10 and a 200-day moving average of $107.44.

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.