New York State Teachers Retirement System Reduces Holdings in Itron, Inc. (NASDAQ:ITRI)

New York State Teachers Retirement System lowered its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,504 shares of the scientific and technical instruments company's stock after selling 8,700 shares during the period. New York State Teachers Retirement System owned about 0.12% of Itron worth $5,500,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC boosted its position in Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 229 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after acquiring an additional 125 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after acquiring an additional 688 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in Itron by 98.0% in the first quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after acquiring an additional 847 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Itron by 43.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company's stock worth $198,000 after acquiring an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Itron Stock Performance

NASDAQ:ITRI traded up $1.19 during trading hours on Wednesday, reaching $134.75. The company had a trading volume of 517,760 shares, compared to its average volume of 561,473. Itron, Inc. has a 1-year low of $90.11 and a 1-year high of $136.24. The firm has a market cap of $6.14 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. The business's 50 day moving average price is $120.60 and its 200-day moving average price is $110.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.22. The company had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. Itron's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. Research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Christopher E. Ware sold 339 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $38,968.05. Following the completion of the sale, the senior vice president directly owned 19,468 shares in the company, valued at $2,237,846.60. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 529 shares of the business's stock in a transaction that occurred on 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 owned 20,151 shares of the company's stock, valued at $2,316,357.45. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,905 shares of company stock valued at $2,439,202. 1.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Piper Sandler cut their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Finally, Guggenheim reaffirmed a "buy" rating and set a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Itron currently has an average rating of "Moderate Buy" and an average target price of $128.18.

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.