Mutual of America Capital Management LLC Trims Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Mutual of America Capital Management LLC reduced its position in shares of Itron, Inc. (NASDAQ:ITRI) by 10.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,763 shares of the scientific and technical instruments company’s stock after selling 777 shares during the period. Mutual of America Capital Management LLC’s holdings in Itron were worth $722,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITRI. Hexagon Capital Partners LLC raised its stake in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. Quarry LP lifted its stake in Itron by 53.0% during the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 122 shares during the last quarter. Covestor Ltd boosted its holdings in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares in the last quarter. GAMMA Investing LLC increased its stake in Itron by 46.6% in the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $71,000 after purchasing an additional 229 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ITRI shares. Janney Montgomery Scott started coverage on shares of Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 target price on the stock. Roth Mkm lifted their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler upped their target price on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Oppenheimer lifted their price target on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Price Performance

Shares of Itron stock opened at $118.00 on Wednesday. The stock has a market capitalization of $5.32 billion, a P/E ratio of 24.18, a PEG ratio of 0.89 and a beta of 1.46. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average price is $109.84 and its 200 day moving average price is $105.04. Itron, Inc. has a twelve month low of $65.42 and a twelve month high of $124.90.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.71. The company had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. As a group, research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Activity

In related news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.