California Public Employees Retirement System Sells 892 Shares of Itron, Inc. (NASDAQ:ITRI)

California Public Employees Retirement System lowered its holdings in shares of Itron, Inc. (NASDAQ:ITRI – Get Rating) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,563 shares of the scientific and technical instruments company’s stock after selling 892 shares during the period. California Public Employees Retirement System’s holdings in Itron were worth $5,499,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its holdings in Itron by 230.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 845 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 589 shares during the last quarter. Luken Investment Analytics LLC bought a new position in Itron during the 4th quarter worth approximately $46,000. US Bancorp DE boosted its stake in shares of Itron by 30.7% in the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 244 shares during the last quarter. Toroso Investments LLC raised its stake in Itron by 31.8% during the third quarter. Toroso Investments LLC now owns 1,776 shares of the scientific and technical instruments company’s stock worth $75,000 after buying an additional 428 shares during the last quarter. Finally, FMR LLC lifted its holdings in Itron by 73.0% in the second quarter. FMR LLC now owns 1,543 shares of the scientific and technical instruments company’s stock valued at $76,000 after buying an additional 651 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ITRI. Piper Sandler lifted their price objective on Itron from $58.00 to $63.00 in a research report on Monday, May 8th. TheStreet upgraded Itron from a “d+” rating to a “c-” rating in a report on Thursday, March 2nd. Stephens restated an “equal weight” rating and set a $45.00 price target on shares of Itron in a report on Tuesday, February 28th. StockNews.com assumed coverage on shares of Itron in a research note on Thursday. They issued a “buy” rating for the company. Finally, EF Hutton Acquisition Co. I reissued a “buy” rating and set a $60.00 target price on shares of Itron in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.00.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 903 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $55.52, for a total transaction of $50,134.56. Following the completion of the sale, the senior vice president now directly owns 10,820 shares of the company’s stock, valued at $600,726.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Donald L. Reeves III sold 903 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $55.52, for a total transaction of $50,134.56. Following the completion of the transaction, the senior vice president now owns 10,820 shares in the company, valued at approximately $600,726.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Deitrich sold 1,333 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $55.64, for a total transaction of $74,168.12. Following the completion of the sale, the chief executive officer now directly owns 145,664 shares in the company, valued at approximately $8,104,744.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,365 shares of company stock worth $512,453. 1.47% of the stock is owned by insiders.

Itron Trading Up 0.6 %

NASDAQ:ITRI opened at $68.02 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.68 and a quick ratio of 1.19. Itron, Inc. has a one year low of $39.38 and a one year high of $69.35. The company has a market cap of $3.09 billion, a PE ratio of -136.04 and a beta of 1.34. The firm has a 50-day moving average of $55.96 and a 200-day moving average of $54.63.

Itron (NASDAQ:ITRI – Get Rating) last posted its earnings results on Thursday, May 4th. The scientific and technical instruments company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.38. The company had revenue of $494.62 million for the quarter, compared to analyst estimates of $464.26 million. Itron had a positive return on equity of 5.88% and a negative net margin of 1.24%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. As a group, equities research analysts expect that Itron, Inc. will post 1.34 EPS for the current fiscal year.

About Itron

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Itron, Inc is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems.