Itron, Inc. (NASDAQ:ITRI) Stake Cut by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 88,585 shares of the scientific and technical instruments company’s stock after selling 5,219 shares during the period. California Public Employees Retirement System’s holdings in Itron were worth $6,689,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Jennison Associates LLC increased its stake in Itron by 17.0% in the 4th quarter. Jennison Associates LLC now owns 4,716 shares of the scientific and technical instruments company’s stock valued at $356,000 after buying an additional 684 shares during the period. Xponance Inc. acquired a new position in shares of Itron in the fourth quarter worth $208,000. Federated Hermes Inc. raised its holdings in shares of Itron by 3.7% during the fourth quarter. Federated Hermes Inc. now owns 139,147 shares of the scientific and technical instruments company’s stock worth $10,507,000 after acquiring an additional 5,003 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Itron by 13.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,248 shares of the scientific and technical instruments company’s stock valued at $9,835,000 after purchasing an additional 15,392 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Itron in the fourth quarter valued at about $587,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Stock Performance

Shares of NASDAQ ITRI opened at $107.01 on Friday. Itron, Inc. has a 12 month low of $56.11 and a 12 month high of $107.11. The company has a market cap of $4.91 billion, a P/E ratio of 50.96, a P/E/G ratio of 1.02 and a beta of 1.38. The business’s 50 day moving average is $91.94 and its two-hundred day moving average is $77.39. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. Itron had a net margin of 4.46% and a return on equity of 12.27%. The business had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Itron’s revenue was up 22.0% compared to the same quarter last year. On average, equities analysts expect that Itron, Inc. will post 3.61 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITRI shares. Oppenheimer lifted their price target on Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Roth Mkm increased their price target on shares of Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday. TheStreet raised shares of Itron from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Finally, TD Cowen increased their target price on shares of Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.60.

Insider Buying and Selling

In other Itron news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the transaction, the director now owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now directly owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the firm’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 $28,866.71. Following the completion of the transaction, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The disclosure for this sale can be found here. Insiders have sold a total of 30,467 shares of company stock valued at $2,752,520 over the last three months. 1.45% of the stock is owned by corporate insiders.

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.