Itron, Inc. (NASDAQ:ITRI) Position Boosted by Shelton Capital Management

Shelton Capital Management lifted its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 360.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,795 shares of the scientific and technical instruments company's stock after purchasing an additional 6,883 shares during the quarter. Shelton Capital Management's holdings in Itron were worth $955,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ITRI. Continuum Advisory LLC lifted its position in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 102 shares during the period. Quarry LP boosted its position in Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock worth $48,000 after purchasing an additional 102 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in Itron in the 4th quarter valued at about $67,000. Contravisory Investment Management Inc. increased its stake in shares of Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after purchasing an additional 525 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 688 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

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Wall Street Analyst Weigh In

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

Insider Buying and Selling at Itron

In related news, Director Mary C. Hemmingsen sold 750 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,630 shares in the company, valued at approximately $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by corporate insiders.

Itron Stock Performance

ITRI traded up $1.81 during trading hours on Tuesday, hitting $103.19. The company's stock had a trading volume of 96,907 shares, compared to its average volume of 566,955. Itron, Inc. has a fifty-two week low of $88.87 and a fifty-two week high of $124.90. The company has a 50-day simple moving average of $102.36 and a 200 day simple moving average of $107.52. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $4.70 billion, a PE ratio of 21.15, a PEG ratio of 0.81 and a beta of 1.39.

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.