Electron Capital Partners LLC acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 234,421 shares of the scientific and technical instruments company’s stock, valued at approximately $15,988,000. Itron comprises 2.7% of Electron Capital Partners LLC’s holdings, making the stock its 12th largest position. Electron Capital Partners LLC owned about 0.61% of Itron at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Two Sigma Investments LP acquired a new position in shares of Itron during the 4th quarter worth about $485,000. Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Itron by 17.2% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 273,990 shares of the scientific and technical instruments company’s stock worth $18,686,000 after buying an additional 40,265 shares during the last quarter. Robecosam AG boosted its stake in shares of Itron by 144.4% during the 4th quarter. Robecosam AG now owns 110,000 shares of the scientific and technical instruments company’s stock worth $7,530,000 after buying an additional 65,000 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of Itron during the 4th quarter worth about $246,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Itron during the 4th quarter worth about $672,000. Institutional investors own 95.34% of the company’s stock.
A number of equities analysts have recently commented on ITRI shares. JMP Securities set a $108.00 price objective on shares of Itron and gave the stock a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of Itron from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Raymond James Financial started coverage on shares of Itron in a research note on Tuesday, January 2nd. They set a “strong-buy” rating and a $84.00 price objective for the company. Canaccord Genuity upgraded shares of Itron from a “hold” rating to a “buy” rating and increased their price objective for the stock from $78.00 to $84.00 in a research note on Tuesday, February 27th. Finally, BidaskClub upgraded shares of Itron from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $84.18.
Itron (NASDAQ:ITRI) last issued its earnings results on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. The company had revenue of $550.78 million for the quarter, compared to analysts’ expectations of $532.61 million. Itron had a net margin of 2.84% and a return on equity of 15.84%. Itron’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. analysts predict that Itron, Inc. will post 3.05 earnings per share for the current year.
In other Itron news, Director Thomas S. Glanville sold 2,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $74.02, for a total value of $148,040.00. Following the transaction, the director now directly owns 13,390 shares of the company’s stock, valued at approximately $991,127.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Scopia Capital Management Lp purchased 13,480 shares of the stock in a transaction on Tuesday, December 12th. The stock was bought at an average cost of $69.32 per share, for a total transaction of $934,433.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 133,315 shares of company stock worth $9,156,911 and sold 16,708 shares worth $1,187,652. 2.03% of the stock is currently owned by corporate insiders.
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Itron, Inc is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. 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.
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