Teacher Retirement System of Texas Has $2.80 Million Stock Position in Itron, Inc. (NASDAQ:ITRI)

Teacher Retirement System of Texas lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 28.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,822 shares of the scientific and technical instruments company’s stock after buying an additional 5,780 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Itron worth $2,804,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ITRI. Cerity Partners LLC bought a new position in Itron in the third quarter valued at about $454,000. Daiwa Securities Group Inc. raised its holdings in Itron by 69.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $235,000 after buying an additional 900 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Itron by 5.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,406 shares of the scientific and technical instruments company’s stock worth $1,752,000 after buying an additional 871 shares during the period. Truvestments Capital LLC bought a new stake in Itron during the 3rd quarter worth approximately $103,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Itron by 2.2% during the third quarter. The Manufacturers Life Insurance Company now owns 26,231 shares of the scientific and technical instruments company’s stock valued at $2,802,000 after acquiring an additional 571 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Itron Stock Performance

Shares of ITRI opened at $108.23 on Wednesday. Itron, Inc. has a one year low of $87.91 and a one year high of $124.90. The company has a market cap of $4.93 billion, a PE ratio of 22.18, a P/E/G ratio of 0.81 and a beta of 1.49. The stock has a 50-day moving average of $104.17 and a 200-day moving average of $107.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Insider Buying and Selling at Itron

In related news, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the transaction, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. This trade represents a 11.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,037 shares of company stock valued at $385,815. Company insiders own 1.45% of the company’s stock.

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.