Itron, Inc. (NASDAQ:ITRI) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Itron, Inc. by 27.3%, holding 143,018 shares valued at approximately $14.98 million as of its latest SEC filing.
• Itron reported better-than-expected quarterly earnings with an EPS of $1.62, surpassing the consensus estimate of $1.33, while revenue was slightly below expectations.
• Brokerages have a consensus rating of "Moderate Buy" on Itron shares, with a significant price target increase from various analysts, highlighting positive market sentiment.

Public Sector Pension Investment Board boosted its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,018 shares of the scientific and technical instruments company's stock after acquiring an additional 30,669 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of Itron worth $14,983,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ITRI. Invesco Ltd. raised its stake in Itron by 2.7% during the 1st quarter. Invesco Ltd. now owns 2,310,769 shares of the scientific and technical instruments company's stock valued at $242,076,000 after acquiring an additional 59,962 shares during the last quarter. First Trust Advisors LP raised its position in shares of Itron by 9.1% in the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock worth $87,145,000 after buying an additional 66,637 shares during the period. Northern Trust Corp increased its holdings in Itron by 11.4% in the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock valued at $62,137,000 after purchasing an additional 58,546 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Itron by 21.5% during the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock valued at $60,857,000 after acquiring an additional 99,142 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Itron by 2.4% in the fourth quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company's stock worth $58,233,000 after purchasing an additional 12,810 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Stock Up 0.7%

Shares of Itron stock traded up $0.91 during trading on Friday, hitting $126.28. The company's stock had a trading volume of 415,545 shares, compared to its average volume of 698,423. The company has a market capitalization of $5.77 billion, a PE ratio of 21.59, a P/E/G ratio of 0.69 and a beta of 1.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $140.04. The company has a fifty day simple moving average of $130.25 and a two-hundred day simple moving average of $114.54.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.29. The company had revenue of $606.76 million for the quarter, compared to the consensus estimate of $610.36 million. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm's revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. Equities research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ITRI shares. Stephens set a $130.00 price objective on shares of Itron in a research note on Monday, August 4th. Piper Sandler cut their price objective on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Johnson Rice cut shares of Itron from a "buy" rating to an "accumulate" rating in a research note on Friday, August 1st. TD Cowen upped their price objective on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $128.00 to $145.00 in a research report on Thursday, July 31st. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Insider Activity

In related news, SVP Donald L. Reeves III sold 529 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $60,808.55. Following the completion of the sale, the senior vice president directly owned 20,151 shares of the company's stock, valued at $2,316,357.45. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin K. Patrick sold 9,036 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the transaction, the senior vice president owned 21,149 shares in the company, valued at approximately $2,575,313.73. This trade represents a 29.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,755 shares of company stock valued at $1,879,397. Insiders own 1.45% of the company's stock.

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.