Millstone Evans Group LLC Acquires New Position in Itron, Inc. (NASDAQ:ITRI)

Millstone Evans Group LLC acquired a new stake in Itron, Inc. (NASDAQ:ITRI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,995 shares of the scientific and technical instruments company’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of Itron in the fourth quarter valued at about $30,000. Continuum Advisory LLC raised its position in Itron by 42.1% during the third 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 last quarter. Quarry LP raised its position in Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 102 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Itron during the fourth quarter worth about $67,000. Finally, Contravisory Investment Management Inc. raised its position in 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 worth $94,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Price Performance

Itron stock opened at $105.76 on Friday. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90. The firm has a 50 day moving average price of $104.00 and a 200 day moving average price of $107.56. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 0.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Activity at Itron

In related news, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the sale, the director now directly owns 5,630 shares in the company, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 2,322 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 transaction of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ITRI shares. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Piper Sandler lifted their target price 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. Guggenheim cut their target price on shares of Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer lifted 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. Finally, Canaccord Genuity Group lifted their price target on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. 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, the stock currently has an average 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.