Envestnet Asset Management Inc. Purchases 3,132 Shares of Itron, Inc. (NASDAQ:ITRI)

Envestnet Asset Management Inc. lifted its stake 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 & Exchange Commission. The firm owned 35,076 shares of the scientific and technical instruments company's stock after purchasing an additional 3,132 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Itron worth $3,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Louisiana State Employees Retirement System raised its stake in shares of Itron by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company's stock valued at $2,367,000 after purchasing an additional 100 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Itron by 2.2% during the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company's stock worth $526,000 after purchasing an additional 108 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Itron by 6.1% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,185 shares of the scientific and technical instruments company's stock worth $237,000 after purchasing an additional 125 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Itron by 15.6% in the fourth quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company's stock valued at $128,000 after buying an additional 159 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Itron by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,081 shares of the scientific and technical instruments company's stock valued at $369,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Analyst Upgrades and Downgrades

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

Itron Trading Up 1.1 %

Itron stock traded up $1.25 during mid-day trading on Friday, hitting $110.41. 484,767 shares of the stock were exchanged, compared to its average volume of 574,005. The firm's fifty day simple moving average is $103.10 and its two-hundred day simple moving average is $107.44. 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, Inc. has a 12 month low of $90.03 and a 12 month high of $124.90. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 1.39.

Insider Buying and Selling at Itron

In related news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,037 shares of company stock valued at $385,815. 1.51% of the stock is currently owned by insiders.

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.