Rhumbline Advisers lowered its position in shares of Itron, Inc. (NASDAQ:ITRI) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 owned about 0.20% of Itron worth $4,980,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ITRI. BNP Paribas Arbitrage SA boosted its stake in Itron by 119.8% in the second quarter. BNP Paribas Arbitrage SA now owns 25,734 shares of the scientific and technical instruments company’s stock valued at $1,545,000 after acquiring an additional 14,025 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Itron during the second quarter valued at approximately $271,000. First Trust Advisors LP raised its holdings in shares of Itron by 52.1% during the second quarter. First Trust Advisors LP now owns 575,715 shares of the scientific and technical instruments company’s stock valued at $34,572,000 after buying an additional 197,199 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in shares of Itron by 9.7% during the second quarter. State of Wisconsin Investment Board now owns 124,000 shares of the scientific and technical instruments company’s stock valued at $7,446,000 after buying an additional 11,000 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Itron during the second quarter valued at approximately $438,000. 96.44% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Scopia Capital Management Lp sold 76,694 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $53.64, for a total transaction of $4,113,866.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gary E. Pruitt bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were purchased at an average cost of $52.73 per share, for a total transaction of $527,300.00. Following the acquisition, the director now owns 31,305 shares of the company’s stock, valued at $1,650,712.65. The disclosure for this purchase can be found here. In the last three months, insiders have sold 155,234 shares of company stock worth $8,260,258. 2.03% of the stock is owned by corporate insiders.
ITRI has been the topic of a number of recent analyst reports. BidaskClub cut Itron from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 25th. JMP Securities set a $80.00 price target on Itron and gave the company a “buy” rating in a report on Tuesday, November 6th. Zacks Investment Research cut Itron from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Cowen reaffirmed a “buy” rating and set a $80.00 price target on shares of Itron in a report on Friday, November 9th. Finally, Guggenheim initiated coverage on Itron in a report on Monday, December 3rd. They set a “buy” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Itron presently has a consensus rating of “Buy” and an average price target of $76.70.
Shares of NASDAQ:ITRI opened at $51.99 on Friday. Itron, Inc. has a 12 month low of $49.59 and a 12 month high of $77.40. The company has a market cap of $2.10 billion, a P/E ratio of 19.13, a PEG ratio of 0.87 and a beta of 1.12. The company has a current ratio of 1.41, a quick ratio of 1.07 and a debt-to-equity ratio of 1.41.
Itron (NASDAQ:ITRI) last announced its earnings results on Monday, November 5th. The scientific and technical instruments company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.24. Itron had a positive return on equity of 15.20% and a negative net margin of 5.19%. The firm had revenue of $595.96 million for the quarter, compared to analysts’ expectations of $604.98 million. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts anticipate that Itron, Inc. will post 2.46 earnings per share for the current fiscal year.
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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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