Arizona State Retirement System Has $1.27 Million Position in Itron, Inc. (NASDAQ:ITRI)

Arizona State Retirement System grew its holdings in Itron, Inc. (NASDAQ:ITRI) by 2.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,832 shares of the scientific and technical instruments company’s stock after acquiring an additional 330 shares during the quarter. Arizona State Retirement System’s holdings in Itron were worth $1,270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Itron by 32.7% during the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after buying an additional 121 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares during the period. Contravisory Investment Management Inc. grew its holdings in shares of Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 131 shares during the period. State Board of Administration of Florida Retirement System grew its position in Itron by 2.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,296 shares of the scientific and technical instruments company’s stock valued at $1,230,000 after purchasing an additional 290 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Itron by 0.3% during the first quarter. Swiss National Bank now owns 89,800 shares of the scientific and technical instruments company’s stock worth $8,308,000 after acquiring an additional 300 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ITRI. Piper Sandler raised their target price on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. TD Cowen lifted their price target on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird raised their price objective on Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and an average price target of $118.64.

Itron Trading Down 0.1 %

NASDAQ ITRI opened at $99.54 on Friday. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. Itron, Inc. has a twelve month low of $56.11 and a twelve month high of $113.07. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 0.81 and a beta of 1.47. The business’s fifty day moving average is $100.40 and its 200 day moving average is $98.94.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.25. The company had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. Itron’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. As a group, sell-side analysts expect that Itron, Inc. will post 4.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,776 shares of company stock valued at $584,721. 1.45% of the stock is currently owned by company insiders.

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.