Teacher Retirement System of Texas Sells 6,917 Shares of Itron, Inc. (NASDAQ:ITRI)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of Itron during the first quarter worth about $266,000. Allspring Global Investments Holdings LLC raised its holdings in Itron by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,278 shares of the scientific and technical instruments company's stock valued at $658,000 after acquiring an additional 2,201 shares during the last quarter. Graphene Investments SAS acquired a new stake in shares of Itron during the first quarter worth $2,724,000. Intech Investment Management LLC grew its position in shares of Itron by 112.7% in the fourth quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company's stock valued at $4,491,000 after purchasing an additional 21,919 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Itron by 0.7% in the first quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company's stock valued at $1,759,000 after purchasing an additional 121 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Itron

In related news, SVP Donald L. Reeves III sold 529 shares of the firm'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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John F. Marcolini sold 3,783 shares of the company'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 value of $441,589.59. Following the transaction, the senior vice president directly owned 21,865 shares in the company, valued at approximately $2,552,301.45. This trade represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,905 shares of company stock worth $2,439,202 in the last ninety days. Insiders own 1.45% of the company's stock.

Itron Price Performance

NASDAQ ITRI traded down $0.99 during trading hours on Friday, reaching $134.54. 396,647 shares of the company's stock were exchanged, compared to its average volume of 558,549. The stock has a market cap of $6.13 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. Itron, Inc. has a one year low of $90.11 and a one year high of $136.24. The company has a current ratio of 1.93, a quick ratio of 1.65 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $121.15 and a 200-day moving average of $110.23.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS 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 business had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm's revenue was up .6% on a year-over-year basis. On average, equities research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ITRI. TD Cowen upped their target price on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Guggenheim restated a "buy" rating and issued a $133.00 price target on shares of Itron in a research report on Thursday, April 17th. Wall Street Zen downgraded Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, Piper Sandler decreased their price target on shares of 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 given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.18.

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.