Itron, Inc. (ITRI) Major Shareholder Scopia Capital Management Lp Acquires 21,870 Shares

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp acquired 21,870 shares of Itron stock in a transaction that occurred on Tuesday, January 2nd. The shares were purchased at an average cost of $68.60 per share, for a total transaction of $1,500,282.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Scopia Capital Management Lp also recently made the following trade(s):

  • On Thursday, December 27th, Scopia Capital Management Lp acquired 11,315 shares of Itron stock. The shares were purchased at an average cost of $68.02 per share, for a total transaction of $769,646.30.
  • On Thursday, December 28th, Scopia Capital Management Lp acquired 23,736 shares of Itron stock. The shares were purchased at an average cost of $68.09 per share, for a total transaction of $1,616,184.24.
  • On Tuesday, December 26th, Scopia Capital Management Lp acquired 21,829 shares of Itron stock. The shares were purchased at an average cost of $67.91 per share, for a total transaction of $1,482,407.39.
  • On Thursday, December 21st, Scopia Capital Management Lp acquired 38,925 shares of Itron stock. The shares were purchased at an average cost of $69.44 per share, for a total transaction of $2,702,952.00.
  • On Thursday, December 14th, Scopia Capital Management Lp acquired 2,160 shares of Itron stock. The shares were purchased at an average cost of $69.91 per share, for a total transaction of $151,005.60.
  • On Tuesday, December 12th, Scopia Capital Management Lp acquired 13,480 shares of Itron stock. The shares were purchased at an average cost of $69.32 per share, for a total transaction of $934,433.60.
  • On Wednesday, December 6th, Scopia Capital Management Lp acquired 75,193 shares of Itron stock. The shares were purchased at an average cost of $67.34 per share, for a total transaction of $5,063,496.62.
  • On Friday, December 8th, Scopia Capital Management Lp purchased 541,753 shares of Itron stock. The stock was bought at an average cost of $69.44 per share, for a total transaction of $37,619,328.32.

Itron, Inc. (ITRI) traded up $0.85 during midday trading on Wednesday, hitting $70.15. 357,151 shares of the stock were exchanged, compared to its average volume of 514,246. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 0.38. Itron, Inc. has a 12 month low of $57.80 and a 12 month high of $79.95. The firm has a market capitalization of $2,641.06, a P/E ratio of 41.02, a PEG ratio of 0.92 and a beta of 1.00.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.12). Itron had a net margin of 3.42% and a return on equity of 14.84%. The business had revenue of $486.75 million during the quarter, compared to analyst estimates of $526.55 million. During the same quarter last year, the business earned $0.77 earnings per share. Itron’s revenue for the quarter was down 4.0% on a year-over-year basis. sell-side analysts predict that Itron, Inc. will post 2.99 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Itron by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after purchasing an additional 31 shares during the last quarter. Pacad Investment Ltd. raised its holdings in shares of Itron by 21.4% in the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after purchasing an additional 300 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Itron in the third quarter valued at approximately $152,000. Riverhead Capital Management LLC raised its holdings in shares of Itron by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock valued at $142,000 after purchasing an additional 897 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Itron in the third quarter valued at approximately $218,000. Institutional investors own 93.54% of the company’s stock.

ITRI has been the topic of a number of research reports. Canaccord Genuity lowered shares of Itron from a “buy” rating to a “hold” rating and set a $78.00 price target on the stock. in a research note on Tuesday, September 19th. Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 price target on shares of Itron in a research note on Tuesday, September 12th. JMP Securities set a $102.00 price target on shares of Itron and gave the company a “buy” rating in a research note on Thursday, October 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of Itron in a research note on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Itron from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $82.18.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/03/itron-inc-itri-major-shareholder-scopia-capital-management-lp-acquires-21870-shares.html.

Itron Company Profile

Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.

Insider Buying and Selling by Quarter for Itron (NASDAQ:ITRI)

Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply