California Public Employees Retirement System Sells 23,046 Shares of Itron, Inc. (NASDAQ:ITRI)

California Public Employees Retirement System lessened its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 27.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,698 shares of the scientific and technical instruments company’s stock after selling 23,046 shares during the period. California Public Employees Retirement System owned about 0.15% of Itron worth $2,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ITRI. Oppenheimer Asset Management Inc. bought a new stake in shares of Itron in the fourth quarter valued at approximately $44,000. Smithfield Trust Co. raised its stake in shares of Itron by 2,120.0% in the first quarter. Smithfield Trust Co. now owns 1,443 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 1,378 shares in the last quarter. ETF Managers Group LLC raised its stake in shares of Itron by 15.6% in the fourth quarter. ETF Managers Group LLC now owns 1,818 shares of the scientific and technical instruments company’s stock valued at $86,000 after purchasing an additional 246 shares in the last quarter. Osborn Williams & Donohoe LLC acquired a new position in shares of Itron in the first quarter valued at $95,000. Finally, CIBC Asset Management Inc raised its stake in shares of Itron by 37.6% in the fourth quarter. CIBC Asset Management Inc now owns 4,663 shares of the scientific and technical instruments company’s stock valued at $221,000 after purchasing an additional 1,273 shares in the last quarter. Hedge funds and other institutional investors own 97.56% of the company’s stock.

ITRI has been the subject of a number of recent research reports. BidaskClub lowered Itron from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Zacks Investment Research upgraded Itron from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Robert W. Baird upgraded Itron from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $62.00 in a research note on Tuesday, May 7th. Oppenheimer increased their price objective on Itron from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, ValuEngine upgraded Itron from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Itron currently has a consensus rating of “Buy” and an average target price of $68.50.

In related news, major shareholder Scopia Capital Management Lp sold 4,340 shares of Itron stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $48.03, for a total value of $208,450.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Philip Mezey sold 31,205 shares of Itron stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $59.07, for a total value of $1,843,279.35. Following the completion of the sale, the insider now directly owns 109,185 shares in the company, valued at approximately $6,449,557.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,911 shares of company stock worth $24,912,054. 2.35% of the stock is currently owned by insiders.

Itron stock traded up $0.99 during mid-day trading on Friday, hitting $62.57. The stock had a trading volume of 678,266 shares, compared to its average volume of 324,938. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.40 and a quick ratio of 1.07. Itron, Inc. has a 12 month low of $44.35 and a 12 month high of $66.95. The firm has a market cap of $2.46 billion, a PE ratio of 23.61, a PEG ratio of 0.94 and a beta of 1.22. The firm’s 50-day moving average is $58.88.

Itron (NASDAQ:ITRI) last issued its earnings results on Monday, May 6th. The scientific and technical instruments company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. The firm had revenue of $614.58 million for the quarter, compared to analysts’ expectations of $591.88 million. Itron had a return on equity of 17.97% and a net margin of 1.87%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share. Research analysts forecast that Itron, Inc. will post 2.66 earnings per share for the current year.

Itron Company Profile

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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