Teacher Retirement System of Texas Purchases 5,780 Shares of Itron, Inc. (NASDAQ:ITRI)

Teacher Retirement System of Texas boosted its position in Itron, Inc. (NASDAQ:ITRI) by 28.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,822 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,780 shares during the period. Teacher Retirement System of Texas’ holdings in Itron were worth $2,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC grew its holdings in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 102 shares in the last quarter. Quarry LP increased its position in shares of Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 102 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Itron during the 4th quarter worth $67,000. Contravisory Investment Management Inc. boosted its holdings in shares of Itron by 154.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock worth $94,000 after buying an additional 525 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Itron by 347.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock valued at $97,000 after buying an additional 688 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $108.23 on Wednesday. The company has a 50 day moving average of $104.17 and a 200 day moving average of $107.85. 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 stock has a market cap of $4.93 billion, a P/E ratio of 22.18, a P/E/G ratio of 0.81 and a beta of 1.49. Itron, Inc. has a 12 month low of $87.91 and a 12 month high of $124.90.

Insider Activity

In related news, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the transaction, the director now directly owns 5,630 shares in the company, valued at $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the transaction, the chief financial officer now owns 92,076 shares in the company, valued at $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock worth $385,815 in the last three months. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Guggenheim reduced their price objective on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Piper Sandler increased their price target on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price objective on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.64.

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.