State of New Jersey Common Pension Fund D Acquires 3,080 Shares of Itron, Inc. (NASDAQ:ITRI)

State of New Jersey Common Pension Fund D increased its position in Itron, Inc. (NASDAQ:ITRIGet Rating) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,799 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,080 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.11% of Itron worth $2,013,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ITRI. Amundi boosted its stake in Itron by 345.3% in the 2nd quarter. Amundi now owns 889,826 shares of the scientific and technical instruments company’s stock worth $43,979,000 after purchasing an additional 689,990 shares in the last quarter. Federated Hermes Inc. raised its position in Itron by 233.6% in the 1st quarter. Federated Hermes Inc. now owns 622,483 shares of the scientific and technical instruments company’s stock worth $32,793,000 after buying an additional 435,870 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Itron in the 1st quarter worth about $13,588,000. Renaissance Technologies LLC raised its position in Itron by 216.1% in the 1st quarter. Renaissance Technologies LLC now owns 290,361 shares of the scientific and technical instruments company’s stock worth $15,296,000 after buying an additional 198,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Itron by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,043,908 shares of the scientific and technical instruments company’s stock valued at $54,994,000 after purchasing an additional 123,400 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Itron Stock Down 1.7 %

Shares of ITRI opened at $55.71 on Friday. The company has a market cap of $2.52 billion, a PE ratio of -27.72 and a beta of 1.32. The business has a fifty day moving average of $53.05 and a 200 day moving average of $50.14. Itron, Inc. has a 52-week low of $39.38 and a 52-week high of $62.77. The company has a quick ratio of 1.20, a current ratio of 1.61 and a debt-to-equity ratio of 0.40.

Itron (NASDAQ:ITRIGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The scientific and technical instruments company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The company had revenue of $420.86 million during the quarter, compared to the consensus estimate of $459.68 million. Itron had a positive return on equity of 4.62% and a negative net margin of 5.01%. On average, sell-side analysts expect that Itron, Inc. will post 0.51 EPS for the current year.

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 2,000 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $51.45, for a total value of $102,900.00. Following the sale, the senior vice president now owns 9,158 shares in the company, valued at $471,179.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ITRI shares. Morgan Stanley reduced their price target on shares of Itron from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, November 4th. StockNews.com raised shares of Itron from a “hold” rating to a “buy” rating in a research report on Wednesday, December 14th. JPMorgan Chase & Co. reduced their target price on shares of Itron from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. Raymond James reduced their target price on shares of Itron from $68.00 to $57.00 and set a “strong-buy” rating for the company in a report on Friday, November 4th. Finally, EF Hutton Acquisition Co. I reduced their target price on shares of Itron from $72.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 4th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.13.

Itron Profile

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Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

See Also

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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