Wellington Management Group LLP Purchases 214,600 Shares of Itron, Inc. (NASDAQ:ITRI)

Wellington Management Group LLP boosted its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 180.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,363 shares of the scientific and technical instruments company's stock after acquiring an additional 214,600 shares during the period. Wellington Management Group LLP owned approximately 0.74% of Itron worth $36,197,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ITRI. Cerity Partners LLC bought a new stake in shares of Itron during the third quarter valued at approximately $454,000. The Manufacturers Life Insurance Company increased its holdings in Itron by 2.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 26,231 shares of the scientific and technical instruments company's stock valued at $2,802,000 after buying an additional 571 shares during the period. Captrust Financial Advisors acquired a new position in shares of Itron in the 3rd quarter valued at $215,000. HighTower Advisors LLC lifted its holdings in shares of Itron by 8.4% during the 3rd quarter. HighTower Advisors LLC now owns 3,024 shares of the scientific and technical instruments company's stock worth $321,000 after acquiring an additional 234 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Itron in the third quarter valued at about $671,000. Institutional investors and hedge funds own 96.19% of the company's stock.

Insider Transactions at Itron

In related news, CAO David Marshall Wright sold 317 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now directly owns 8,108 shares of the company's stock, valued at approximately $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the firm'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 $60,199.20. Following the completion of the transaction, the senior vice president now 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. Insiders sold 4,037 shares of company stock valued at $385,815 in the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

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Itron Stock Up 3.9 %

ITRI stock traded up $3.78 during trading hours on Friday, reaching $101.00. 823,443 shares of the stock were exchanged, compared to its average volume of 567,908. The firm's 50-day moving average is $102.47 and its 200-day moving average is $107.53. Itron, Inc. has a 12 month low of $88.87 and a 12 month high of $124.90. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.81 and a beta of 1.39. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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 note on Wednesday, February 26th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. 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 research report on Wednesday, February 26th. Guggenheim lowered their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler lifted their price target on shares of Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.64.

Itron Company 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.