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

State of New Jersey Common Pension Fund D trimmed its holdings in Itron, Inc. (NASDAQ:ITRI) by 46.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 17,581 shares of the scientific and technical instruments company’s stock after selling 14,950 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Itron were worth $1,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hexagon Capital Partners LLC grew its position in Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares during the period. GAMMA Investing LLC lifted its stake in Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 121 shares during the period. CWM LLC increased its position in Itron by 315.6% during the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after purchasing an additional 669 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new position in Itron in the 4th quarter worth $76,000. Institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling at Itron

In related news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the sale, the chief executive officer now owns 205,276 shares in the company, valued at $20,968,943.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the transaction, the chief executive officer now owns 205,276 shares in the company, valued at $20,968,943.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares in the company, valued at approximately $7,389,326.70. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock valued at $584,721 over the last ninety days. 1.45% of the stock is currently owned by company insiders.

Itron Price Performance

NASDAQ ITRI opened at $106.90 on Wednesday. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 0.84 and a beta of 1.47. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The business’s fifty day moving average price is $100.88 and its 200-day moving average price is $99.68. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $113.07.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.25. The firm had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. On average, equities analysts predict that Itron, Inc. will post 4.59 earnings per share for the current year.

Wall Street Analyst Weigh In

ITRI has been the subject of a number of research reports. TD Cowen increased their price target on shares of Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird upped their target price on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BNP Paribas started coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target for the company. StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Finally, Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Itron in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.64.

Itron Company 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.