Rhumbline Advisers trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI) by 4.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 77,566 shares of the scientific and technical instruments company’s stock after selling 4,019 shares during the quarter. Rhumbline Advisers’ holdings in Itron were worth $4,980,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITRI. Scopia Capital Management LP grew its holdings in shares of Itron by 5.0% during the 2nd quarter. Scopia Capital Management LP now owns 5,484,889 shares of the scientific and technical instruments company’s stock valued at $329,368,000 after acquiring an additional 262,749 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Itron by 1.4% during the 2nd quarter. Northern Trust Corp now owns 463,790 shares of the scientific and technical instruments company’s stock valued at $27,852,000 after acquiring an additional 6,409 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of Itron by 23.2% during the 2nd quarter. Putnam Investments LLC now owns 72,345 shares of the scientific and technical instruments company’s stock valued at $4,345,000 after acquiring an additional 13,600 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Itron by 70.2% during the 2nd quarter. SG Americas Securities LLC now owns 19,436 shares of the scientific and technical instruments company’s stock valued at $1,167,000 after acquiring an additional 8,015 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of Itron during the 3rd quarter valued at $684,000. Hedge funds and other institutional investors own 96.44% of the company’s stock.
ITRI has been the topic of several research analyst reports. Argus upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, August 22nd. BidaskClub upgraded shares of Itron from a “strong sell” rating to a “sell” rating in a report on Friday, August 24th. ValuEngine cut shares of Itron from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Zacks Investment Research cut shares of Itron from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, JMP Securities set a $80.00 price objective on shares of Itron and gave the stock a “buy” rating in a report on Tuesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $76.70.
Shares of NASDAQ:ITRI opened at $51.99 on Friday. The firm has a market capitalization of $2.10 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 0.87 and a beta of 1.12. Itron, Inc. has a 1 year low of $49.59 and a 1 year high of $77.40. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.41 and a quick ratio of 1.07.
Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Monday, November 5th. The scientific and technical instruments company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.24. The firm had revenue of $595.96 million during the quarter, compared to analysts’ expectations of $604.98 million. Itron had a negative net margin of 5.19% and a positive return on equity of 15.20%. Itron’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, equities analysts anticipate that Itron, Inc. will post 2.46 EPS for the current year.
In other news, Director Gary E. Pruitt bought 10,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was purchased at an average price of $52.73 per share, with a total value of $527,300.00. Following the transaction, the director now directly owns 31,305 shares in the company, valued at $1,650,712.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Scopia Capital Management Lp sold 4,153 shares of the business’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $56.07, for a total transaction of $232,858.71. The disclosure for this sale can be found here. Insiders sold 155,234 shares of company stock valued at $8,260,258 over the last quarter. 2.03% of the stock is currently owned by corporate insiders.
Itron Company Profile
Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.
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