Arizona State Retirement System Sells 224 Shares of Itron, Inc. (NASDAQ:ITRI)

Arizona State Retirement System reduced its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 12,709 shares of the scientific and technical instruments company’s stock after selling 224 shares during the period. Arizona State Retirement System’s holdings in Itron were worth $960,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in shares of Itron by 233.6% during the first quarter. Federated Hermes Inc. now owns 622,483 shares of the scientific and technical instruments company’s stock valued at $32,793,000 after buying an additional 435,870 shares during the period. Norges Bank purchased a new position in shares of Itron during the fourth quarter valued at approximately $20,846,000. Amundi boosted its position in shares of Itron by 18.3% during the fourth quarter. Amundi now owns 2,600,319 shares of the scientific and technical instruments company’s stock valued at $133,785,000 after buying an additional 401,394 shares during the period. Employees Retirement System of Texas purchased a new position in shares of Itron during the fourth quarter valued at approximately $14,519,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Itron in the first quarter valued at approximately $13,588,000. 96.19% of the stock is owned by institutional investors.

Itron Stock Up 0.9 %

Itron stock opened at $90.76 on Wednesday. The business has a fifty day moving average of $87.01 and a two-hundred day moving average of $74.36. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4.16 billion, a P/E ratio of 43.22, a P/E/G ratio of 1.01 and a beta of 1.41. Itron, Inc. has a twelve month low of $50.60 and a twelve month high of $96.73.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. The business had revenue of $577.17 million for the quarter, compared to the consensus estimate of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, analysts forecast that Itron, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Transactions at Itron

In other news, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $117,577.20. Following the transaction, the chief financial officer now directly owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the transaction, the chief financial officer now directly owns 60,141 shares of the company’s stock, valued at approximately $4,532,827.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Deitrich sold 1,912 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares in the company, valued at $12,743,032.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,467 shares of company stock valued at $2,752,520. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITRI. Oppenheimer upgraded Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target for the company in a report on Friday, January 19th. Piper Sandler lowered their price target on Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. TheStreet upgraded Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. TD Cowen boosted their price target on Itron from $107.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.60.

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.