Oregon Public Employees Retirement Fund Sells 300 Shares of Itron, Inc. (NASDAQ:ITRI)

Oregon Public Employees Retirement Fund reduced its holdings in Itron, Inc. (NASDAQ:ITRI) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,283 shares of the scientific and technical instruments company’s stock after selling 300 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Itron were worth $1,077,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GeoWealth Management LLC grew its position in shares of 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 worth $25,000 after buying an additional 229 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock worth $67,000 after buying an additional 125 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after buying an additional 688 shares during the last quarter. Contravisory Investment Management Inc. grew its position in shares of 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 worth $179,000 after buying an additional 847 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of 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 worth $198,000 after buying an additional 548 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Wall Street Zen cut Itron from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. TD Cowen raised their target price on Itron from $139.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 20th. Finally, Guggenheim restated a “buy” rating and issued a $133.00 target price on shares of Itron in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and an average target price of $128.18.

Insider Buying and Selling at Itron

In other Itron news, SVP John F. Marcolini sold 3,783 shares of Itron stock in a transaction 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 completion of the sale, the senior vice president owned 21,865 shares of the company’s stock, valued at approximately $2,552,301.45. This trade represents a 14.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joan S. Hooper sold 938 shares of Itron stock in a transaction 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 completion of the sale, the chief financial officer directly owned 89,364 shares of the company’s stock, valued at approximately $10,272,391.80. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,905 shares of company stock valued at $2,439,202 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Itron Stock Up 1.2%

Shares of NASDAQ:ITRI opened at $135.65 on Friday. The stock has a fifty day simple moving average of $119.17 and a two-hundred day simple moving average of $109.52. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.86 and a beta of 1.35. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $136.06. 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) last announced its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.22. The business had revenue of $607.15 million during the quarter, compared to analysts’ expectations of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. On average, research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal 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.