Teacher Retirement System of Texas Cuts Holdings in Itron, Inc. (NASDAQ:ITRI)

Teacher Retirement System of Texas trimmed its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 26.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GeoWealth Management LLC increased its position in Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after acquiring an additional 229 shares during the period. Proficio Capital Partners LLC acquired a new stake in Itron in the 4th quarter valued at approximately $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. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Joan S. Hooper sold 938 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 $107,823.10. Following the sale, the chief financial officer directly owned 89,364 shares of the company's stock, valued at approximately $10,272,391.80. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 529 shares of the 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 transaction, the senior vice president owned 20,151 shares in the company, valued at approximately $2,316,357.45. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,905 shares of company stock valued at $2,439,202. 1.45% of the stock is owned by company insiders.

Analyst Ratings Changes

ITRI has been the subject of a number of research reports. Piper Sandler decreased their price target on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. TD Cowen raised their price objective on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Guggenheim reissued a "buy" rating and set a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. Finally, Wall Street Zen lowered Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.18.

Itron Stock Down 0.7%

NASDAQ ITRI traded down $0.99 during trading on Friday, hitting $134.54. 396,647 shares of the company traded hands, compared to its average volume of 555,304. The company has a market capitalization of $6.13 billion, a P/E ratio of 24.55, a PEG ratio of 0.86 and a beta of 1.35. The business has a fifty day simple moving average of $121.68 and a 200 day simple moving average of $110.40. Itron, Inc. has a 12 month low of $90.11 and a 12 month 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.

Itron (NASDAQ:ITRI - Get Free Report) last released its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. The business had revenue of $607.15 million for 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%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business earned $1.24 earnings per share. As a group, sell-side analysts predict that Itron, Inc. will post 5.33 EPS for the current year.

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.