Millstone Evans Group LLC Makes New Investment in Itron, Inc. (NASDAQ:ITRI)

Millstone Evans Group LLC acquired a new stake in Itron, Inc. (NASDAQ:ITRI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,995 shares of the scientific and technical instruments company's stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in shares of Itron by 5.2% in the third quarter. Jennison Associates LLC now owns 13,650 shares of the scientific and technical instruments company's stock worth $1,458,000 after buying an additional 673 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Itron by 67.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,742 shares of the scientific and technical instruments company's stock worth $4,352,000 after acquiring an additional 16,447 shares during the period. Intech Investment Management LLC lifted its position in Itron by 105.9% during the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock worth $2,077,000 after acquiring an additional 10,001 shares during the last quarter. Cerity Partners LLC bought a new stake in Itron during the third quarter valued at about $454,000. Finally, Algert Global LLC grew its position in shares of Itron by 13.6% in the third quarter. Algert Global LLC now owns 155,045 shares of the scientific and technical instruments company's stock valued at $16,560,000 after purchasing an additional 18,599 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts recently weighed in on ITRI shares. Piper Sandler increased their target price on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. Guggenheim reduced their price objective on Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Oppenheimer boosted 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. Canaccord Genuity Group increased their price target 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 downgraded shares of 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 given a buy rating to the company. Based on data from MarketBeat.com, Itron has a consensus rating of "Moderate Buy" and a consensus target price of $127.64.

Insider Buying and Selling at Itron

In other Itron news, SVP Christopher E. Ware sold 648 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 $60,199.20. Following the completion of the transaction, the senior vice president now directly owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by corporate insiders.

Itron Price Performance

NASDAQ ITRI traded down $0.87 on Wednesday, reaching $107.36. The company's stock had a trading volume of 420,301 shares, compared to its average volume of 526,859. Itron, Inc. has a 52 week low of $87.91 and a 52 week high of $124.90. 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 cap of $4.89 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The business has a 50-day moving average price of $104.17 and a 200 day moving average price of $107.85.

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.