Teacher Retirement System of Texas Trims Stake in Itron, Inc. (NASDAQ:ITRI)

Teacher Retirement System of Texas lowered its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 26.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,905 shares of the scientific and technical instruments company's stock after selling 6,917 shares during the period. Teacher Retirement System of Texas' holdings in Itron were worth $1,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITRI. GeoWealth Management LLC increased its position in shares of 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 worth $25,000 after purchasing an additional 229 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Itron in the 4th quarter valued at about $30,000. CoreCap Advisors LLC increased its position in Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after acquiring an additional 125 shares during the period. Contravisory Investment Management Inc. increased its position in Itron by 98.0% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock valued at $179,000 after acquiring an additional 847 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in Itron by 43.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company's stock valued at $198,000 after acquiring an additional 548 shares during the period. Institutional investors and hedge funds own 96.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen cut Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. TD Cowen boosted their price target on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Guggenheim restated a "buy" rating and issued a $155.00 price target (up previously from $133.00) on shares of Itron in a research report on Monday. Finally, Piper Sandler dropped their price target on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Itron has a consensus rating of "Moderate Buy" and an average price target of $130.18.

Itron Stock Performance

ITRI traded up $0.80 during trading on Monday, reaching $135.34. The company's stock had a trading volume of 290,110 shares, compared to its average volume of 552,800. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $136.24. The company's fifty day moving average price is $121.68 and its 200-day moving average price is $110.40. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93.

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

Insider Buying and Selling at Itron

In other news, SVP John F. Marcolini sold 3,783 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total transaction of $441,589.59. Following the sale, the senior vice president owned 21,865 shares of the company's stock, valued at $2,552,301.45. The trade was a 14.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 938 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 $107,823.10. Following the sale, the chief financial officer directly owned 89,364 shares in the company, valued at $10,272,391.80. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,905 shares of company stock worth $2,439,202. Corporate insiders own 1.51% of the company's stock.

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.