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

Wellington Management Group LLP raised its position in shares of Itron, Inc. (NASDAQ:ITRI) by 180.7% in the fourth quarter, HoldingsChannel reports. The fund 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’s holdings in Itron were worth $36,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after purchasing an additional 5,630 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Itron by 78.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock worth $660,000 after buying an additional 2,671 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Itron by 112.7% in the fourth quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company’s stock valued at $4,491,000 after acquiring an additional 21,919 shares during the period. Merit Financial Group LLC acquired a new position in shares of Itron in the fourth quarter valued at about $301,000. Finally, HighTower Advisors LLC increased its position in Itron by 143.2% during the fourth quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company’s stock worth $799,000 after acquiring an additional 4,331 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Activity at Itron

In other Itron news, 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 sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO David Marshall Wright sold 317 shares of the company’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 $29,449.30. Following the transaction, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at $753,233.20. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,037 shares of company stock valued at $385,815. 1.51% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITRI. StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Piper Sandler increased their price target 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 objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Guggenheim dropped their price target on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $127.64.

Itron Stock Down 6.0 %

Shares of NASDAQ ITRI opened at $94.79 on Monday. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 0.81 and a beta of 1.39. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 12 month low of $88.87 and a 12 month high of $124.90. The stock has a 50-day moving average price of $103.81 and a two-hundred day moving average price of $108.02.

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.