Vanguard Group Inc. Has $639.74 Million Stake in Itron, Inc. (NASDAQ:ITRI)

Vanguard Group Inc. lowered its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,891,866 shares of the scientific and technical instruments company's stock after selling 71,421 shares during the period. Vanguard Group Inc. owned 13.07% of Itron worth $639,739,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITRI. Proficio Capital Partners LLC bought a new stake in shares of Itron during the fourth quarter valued at approximately $30,000. Continuum Advisory LLC boosted 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 grew its stake in shares of Itron by 29.0% in 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 position in shares of Itron during the fourth quarter valued at $67,000. Finally, Contravisory Investment Management Inc. raised its stake in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after purchasing an additional 525 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Trading Down 6.0 %

Shares of Itron stock traded down $6.05 during trading on Friday, hitting $94.79. The stock had a trading volume of 905,076 shares, compared to its average volume of 558,170. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $4.32 billion, a PE ratio of 19.42, a P/E/G ratio of 0.81 and a beta of 1.39. Itron, Inc. has a 1 year low of $88.87 and a 1 year high of $124.90. The stock has a 50 day simple moving average of $103.81 and a 200 day simple moving average of $107.96.

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Wall Street Analysts Forecast Growth

Several research firms have commented on ITRI. Oppenheimer raised their target price on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. StockNews.com cut Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Canaccord Genuity Group increased their price target on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Guggenheim lowered their price target on Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler upped their price objective on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.64.

Insider Buying and Selling at Itron

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the transaction, the chief financial officer now directly owns 92,076 shares of the company's stock, valued at $8,553,860.40. This represents a 2.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares of the company's stock, 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. Insiders have sold a total of 4,037 shares of company stock valued at $385,815 in the last three months. 1.51% of the stock is currently owned by company insiders.

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.