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

Teacher Retirement System of Texas grew its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 28.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 quarter. Teacher Retirement System of Texas owned approximately 0.06% of Itron worth $2,804,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ITRI. Erste Asset Management GmbH bought a new position in Itron during the 3rd quarter valued at $38,534,000. Bowen Hanes & Co. Inc. purchased a new stake in shares of Itron in the fourth quarter valued at about $27,486,000. Franklin Resources Inc. grew its position in Itron by 611.9% in the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company's stock worth $31,128,000 after purchasing an additional 243,102 shares in the last quarter. Soros Fund Management LLC increased its stake in Itron by 38.9% in the 3rd quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company's stock valued at $29,373,000 after buying an additional 77,050 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its position in shares of Itron by 1,340.9% during the 3rd quarter. Edgestream Partners L.P. now owns 42,161 shares of the scientific and technical instruments company's stock worth $4,503,000 after buying an additional 39,235 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently commented on ITRI shares. Canaccord Genuity Group increased their price target on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Piper Sandler raised their target price on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Guggenheim lowered their target price on Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Finally, 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Itron has a consensus rating of "Moderate Buy" and a consensus target price of $127.64.

Itron Price Performance

NASDAQ:ITRI traded down $1.45 during mid-day trading on Friday, hitting $103.79. 83,815 shares of the stock traded hands, compared to its average volume of 554,219. The business's 50-day moving average price is $104.24 and its 200 day moving average price is $107.83. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company has a market cap of $4.73 billion, a PE ratio of 21.26, a price-to-earnings-growth 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 Buying and Selling at Itron

In other news, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares of the company's stock, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction on Monday, February 24th. The shares were 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 directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock worth $385,815 over the last three months. 1.45% of the stock is owned by insiders.

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.