Itron, Inc. (NASDAQ:ITRI) Stock Holdings Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in shares of Itron, Inc. (NASDAQ:ITRI) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,393 shares of the scientific and technical instruments company’s stock after selling 141 shares during the period. Maryland State Retirement & Pension System’s holdings in Itron were worth $1,490,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Itron by 2.6% during the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after acquiring an additional 142,564 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Itron by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock worth $126,978,000 after purchasing an additional 51,874 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Itron by 16.0% during the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after purchasing an additional 110,849 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Itron by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after purchasing an additional 15,157 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Itron by 0.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $30,081,000 after purchasing an additional 1,111 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Performance

NASDAQ ITRI traded down $1.73 during midday trading on Friday, hitting $97.74. The company had a trading volume of 29,093 shares, compared to its average volume of 478,804. The firm has a fifty day simple moving average of $104.25 and a two-hundred day simple moving average of $89.78. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 0.96 and a beta of 1.45. The company has a quick ratio of 1.40, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $111.00.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. The business had revenue of $603.44 million for the quarter, compared to the consensus estimate of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. Equities analysts forecast that Itron, Inc. will post 4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ITRI. JPMorgan Chase & Co. raised their target price on Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Piper Sandler lowered Itron from an “overweight” rating to a “neutral” rating and set a $109.00 price objective on the stock. in a report on Tuesday, May 21st. TD Cowen boosted their target price on Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Canaccord Genuity Group increased their price target on Itron from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.64.

Insider Activity

In related news, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $108.87, for a total value of $95,043.51. Following the completion of the transaction, the chief executive officer now directly owns 206,163 shares of the company’s stock, valued at $22,444,965.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas Deitrich sold 873 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the sale, the chief executive officer now owns 206,163 shares of the company’s stock, valued at $22,444,965.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 501 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $54,543.87. Following the transaction, the chief financial officer now owns 72,847 shares of the company’s stock, valued at approximately $7,930,852.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,775 shares of company stock worth $192,613. Company insiders own 1.45% of the company’s stock.

Itron 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.