Franklin Resources Inc. Boosts Position in Itron, Inc. (NASDAQ:ITRI)

Franklin Resources Inc. lifted its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 22.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 347,203 shares of the scientific and technical instruments company's stock after purchasing an additional 64,375 shares during the quarter. Franklin Resources Inc. owned about 0.77% of Itron worth $37,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITRI. Wellington Management Group LLP raised its position in 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 worth $36,197,000 after buying an additional 214,600 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Itron by 3,119.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,410 shares of the scientific and technical instruments company's stock worth $471,000 after buying an additional 4,273 shares during the last quarter. Schroder Investment Management Group raised its position in Itron by 42.1% during the 4th quarter. Schroder Investment Management Group now owns 253,526 shares of the scientific and technical instruments company's stock worth $27,528,000 after buying an additional 75,166 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in 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 buying an additional 196,396 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in Itron by 24.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,434 shares of the scientific and technical instruments company's stock worth $807,000 after buying an additional 1,445 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Itron

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of Itron 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by company insiders.

Itron Price Performance

Itron stock traded down $2.81 during trading on Thursday, reaching $96.73. The company had a trading volume of 57,413 shares, compared to its average volume of 608,036. The firm's 50-day simple moving average is $102.73 and its 200 day simple moving average is $107.61. Itron, Inc. has a 1-year low of $88.87 and a 1-year high of $124.90. The firm has a market capitalization of $4.41 billion, a PE ratio of 19.82, 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 quick ratio of 2.83 and a current ratio of 3.36.

Analysts Set New Price Targets

ITRI has been the subject of a number of recent research reports. Oppenheimer raised their price target 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. Guggenheim reduced their price target on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Canaccord Genuity Group lifted their target price on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Piper Sandler lifted their target price on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.64.

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.