State of New Jersey Common Pension Fund D Increases Stake in Itron, Inc. (NASDAQ:ITRI)

State of New Jersey Common Pension Fund D boosted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 10.9% during the 3rd quarter, Holdings Channel reports. The firm owned 19,506 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,925 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Itron were worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ITRI. Janney Montgomery Scott LLC purchased a new stake in Itron during the 1st quarter valued at about $346,000. Oppenheimer Asset Management Inc. purchased a new position in Itron during the 1st quarter worth approximately $205,000. Swiss National Bank boosted its holdings in shares of Itron by 0.3% in the 1st quarter. Swiss National Bank now owns 89,800 shares of the scientific and technical instruments company’s stock valued at $8,308,000 after acquiring an additional 300 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Itron by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,185 shares of the scientific and technical instruments company’s stock valued at $850,000 after acquiring an additional 632 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Itron by 113.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company’s stock worth $2,867,000 after purchasing an additional 16,441 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

ITRI opened at $114.90 on Friday. The firm’s fifty day simple moving average is $107.85 and its two-hundred day simple moving average is $104.45. Itron, Inc. has a 52-week low of $64.96 and a 52-week high of $124.90. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.89 and a beta of 1.46. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same period last year, the company posted $0.98 EPS. Itron’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

ITRI has been the topic of several recent research reports. Guggenheim upped their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. TD Cowen upped their target price on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler raised their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Robert W. Baird boosted their price target on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Stephens restated an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

Insider Buying and Selling

In other news, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 20.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,276 shares of company stock worth $4,517,947. 1.45% of the stock is owned by corporate insiders.

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.