Mutual of America Capital Management LLC Cuts Stake in Itron, Inc. (NASDAQ:ITRI)

Mutual of America Capital Management LLC lessened its holdings in Itron, Inc. (NASDAQ:ITRI) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,763 shares of the scientific and technical instruments company’s stock after selling 777 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Itron were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Saturna Capital Corp grew its position in shares of Itron by 6.1% in the 3rd quarter. Saturna Capital Corp now owns 7,213 shares of the scientific and technical instruments company’s stock worth $770,000 after buying an additional 413 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Itron by 41.6% in the third quarter. Victory Capital Management Inc. now owns 283,728 shares of the scientific and technical instruments company’s stock valued at $30,305,000 after acquiring an additional 83,328 shares in the last quarter. Entropy Technologies LP purchased a new position in Itron during the 3rd quarter valued at $502,000. Chartwell Investment Partners LLC bought a new position in Itron in the 3rd quarter worth $1,891,000. Finally, Peregrine Asset Advisers Inc. lifted its position in shares of Itron by 1.8% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 21,664 shares of the scientific and technical instruments company’s stock worth $2,314,000 after purchasing an additional 393 shares during the period. 96.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at $21,519,083.08. This represents a 15.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.45% of the stock is currently owned by insiders.

Itron Stock Performance

Shares of ITRI opened at $118.00 on Wednesday. The stock has a 50-day moving average of $109.84 and a two-hundred day moving average of $105.04. The stock has a market cap of $5.32 billion, a P/E ratio of 24.18, a P/E/G ratio of 0.89 and a beta of 1.46. Itron, Inc. has a one year low of $65.42 and a one year high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period in the previous year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that Itron, Inc. will post 5.33 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stephens reiterated an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a report on Monday, August 5th. Janney Montgomery Scott assumed coverage on Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 price objective on the stock. BNP Paribas started coverage on shares of Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price for the company. Robert W. Baird upped their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Guggenheim raised their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Itron has an average rating of “Moderate Buy” and an average target price of $123.92.

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.