Texas Permanent School Fund Corp Purchases 3,677 Shares of Itron, Inc. (NASDAQ:ITRI)

Texas Permanent School Fund Corp grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,492 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,677 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Itron worth $4,304,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ITRI. Silvercrest Asset Management Group LLC bought a new position in Itron during the first quarter valued at approximately $401,000. Norges Bank purchased a new position in Itron in the 4th quarter worth $24,504,000. Victory Capital Management Inc. lifted its stake in Itron by 1,331.3% in the second quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock worth $19,832,000 after purchasing an additional 186,399 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new stake in Itron during the first quarter valued at about $7,170,000. Finally, Quadrature Capital Ltd bought a new position in shares of Itron during the first quarter valued at about $5,718,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Up 3.0 %

ITRI stock opened at $102.54 on Friday. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 0.84 and a beta of 1.47. The business’s 50 day moving average price is $100.40 and its two-hundred day moving average price is $98.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results 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 company had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, analysts forecast that Itron, Inc. will post 4.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $125.00 target price on shares of Itron in a report on Wednesday, August 21st. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Friday, June 28th. TD Cowen lifted their target price 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. JPMorgan Chase & Co. raised their price target on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, BNP Paribas assumed coverage on shares of Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.64.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock worth $584,721 in the last three months. 1.45% of the stock is owned by corporate insiders.

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.