Itron, Inc. (NASDAQ:ITRI) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in Itron, Inc. (NASDAQ:ITRI) by 3.9% in the first quarter, HoldingsChannel.com reports. The fund owned 6,566 shares of the scientific and technical instruments company’s stock after selling 265 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Itron were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GeoWealth Management LLC raised its position in Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 229 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Itron during the fourth quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new position in Itron in the first quarter valued at approximately $45,000. CoreCap Advisors LLC lifted its holdings in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after buying an additional 125 shares during the period. Finally, Contravisory Investment Management Inc. raised its holdings in shares of Itron by 98.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company’s stock worth $179,000 after acquiring an additional 847 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Up 0.2%

ITRI stock opened at $136.63 on Tuesday. The firm has a market cap of $6.23 billion, a PE ratio of 24.93, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93. The firm’s fifty day moving average is $124.54 and its 200 day moving average is $111.35. Itron, Inc. has a one year low of $90.11 and a one year high of $137.99.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.22. Itron had a net margin of 10.34% and a return on equity of 19.65%. The business had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same period in the previous year, the firm earned $1.24 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insider Transactions at Itron

In related news, CFO Joan S. Hooper sold 938 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $107,823.10. Following the transaction, the chief financial officer owned 89,364 shares in the company, valued at approximately $10,272,391.80. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Justin K. Patrick sold 9,036 shares of Itron stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the sale, the senior vice president owned 21,149 shares in the company, valued at $2,575,313.73. This represents a 29.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,905 shares of company stock worth $2,439,202 in the last 90 days. Insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

ITRI has been the subject of several analyst reports. Guggenheim reiterated a “buy” rating and issued a $155.00 target price (up previously from $133.00) on shares of Itron in a report on Monday, July 14th. Piper Sandler decreased their price target on shares of Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. TD Cowen upped their target price on shares of Itron from $139.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 20th. Finally, Wall Street Zen cut shares of Itron from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

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.