State of New Jersey Common Pension Fund D Purchases 1,925 Shares of Itron, Inc. (NASDAQ:ITRI)

State of New Jersey Common Pension Fund D increased its holdings in Itron, Inc. (NASDAQ:ITRI) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,506 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,925 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Itron were worth $2,083,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Silvercrest Asset Management Group LLC bought a new stake in shares of Itron in the 1st quarter valued at approximately $401,000. Handelsbanken Fonder AB lifted its position in Itron by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after buying an additional 346,615 shares during the last quarter. Select Equity Group L.P. boosted its stake in Itron by 86.2% during the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock worth $59,760,000 after buying an additional 279,629 shares during the period. Assenagon Asset Management S.A. increased its position in Itron by 90.7% during the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after acquiring an additional 243,355 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of Itron in the second quarter valued at $22,612,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling

In other Itron news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock worth $4,517,947 in the last three months. 1.45% of the stock is owned by insiders.

Itron Trading Down 2.3 %

NASDAQ ITRI opened at $114.90 on Friday. Itron, Inc. has a one year low of $64.96 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. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company’s 50-day simple moving average is $107.85 and its two-hundred day simple moving average is $104.45.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.71. The company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Equities analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Janney Montgomery Scott started coverage on Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. TD Cowen upped their target price on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BNP Paribas began coverage on Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target for the company. Finally, Guggenheim upped their price objective on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.92.

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.