California Public Employees Retirement System Trims Stock Position in Itron, Inc. (NASDAQ:ITRI)

California Public Employees Retirement System lowered its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 79,259 shares of the scientific and technical instruments company's stock after selling 4,523 shares during the quarter. California Public Employees Retirement System owned 0.18% of Itron worth $8,606,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new position in Itron during the 4th quarter valued at about $30,000. Continuum Advisory LLC grew its position in shares of Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock worth $40,000 after buying an additional 102 shares during the last quarter. Quarry LP increased its stake in shares of Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 102 shares during the period. Hager Investment Management Services LLC bought a new position in shares of Itron during the fourth quarter valued at approximately $67,000. Finally, Contravisory Investment Management Inc. raised its holdings in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after acquiring an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

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Itron Stock Up 3.9 %

Shares of Itron stock traded up $3.78 on Friday, reaching $101.00. The company's stock had a trading volume of 823,443 shares, compared to its average volume of 567,908. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 0.81 and a beta of 1.39. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 52 week low of $88.87 and a 52 week high of $124.90. The firm's fifty day simple moving average is $102.47 and its two-hundred day simple moving average is $107.53.

Insider Buying and Selling

In other news, CFO Joan S. Hooper sold 2,322 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the sale, the chief financial officer now owns 92,076 shares of the company's stock, valued at $8,553,860.40. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Christopher E. Ware sold 648 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the transaction, the senior vice president now directly owns 20,326 shares of the company's stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ITRI has been the topic of several research reports. Piper Sandler lifted their price objective on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Canaccord Genuity Group lifted their price target on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. StockNews.com cut shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Guggenheim lowered their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Oppenheimer upped their price target on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $127.64.

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.