Itron, Inc. (ITRI) Major Shareholder Purchases $1,500,282.00 in Stock

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp acquired 21,870 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were acquired at an average price of $68.60 per share, with a total value of $1,500,282.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major 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 purchased 11,315 shares of Itron stock. The shares were purchased at an average price of $68.02 per share, with a total value of $769,646.30.
  • On Thursday, December 28th, Scopia Capital Management Lp purchased 23,736 shares of Itron stock. The shares were purchased at an average price of $68.09 per share, with a total value of $1,616,184.24.
  • On Tuesday, December 26th, Scopia Capital Management Lp purchased 21,829 shares of Itron stock. The shares were purchased at an average price of $67.91 per share, with a total value of $1,482,407.39.
  • On Thursday, December 21st, Scopia Capital Management Lp purchased 38,925 shares of Itron stock. The shares were purchased at an average price of $69.44 per share, with a total value of $2,702,952.00.
  • On Thursday, December 14th, Scopia Capital Management Lp purchased 2,160 shares of Itron stock. The shares were purchased at an average price of $69.91 per share, with a total value of $151,005.60.
  • On Tuesday, December 12th, Scopia Capital Management Lp purchased 13,480 shares of Itron stock. The shares were purchased at an average price of $69.32 per share, with a total value of $934,433.60.
  • On Wednesday, December 6th, Scopia Capital Management Lp purchased 75,193 shares of Itron stock. The shares were purchased at an average price of $67.34 per share, with a total value of $5,063,496.62.
  • On Friday, December 8th, Scopia Capital Management Lp purchased 541,753 shares of Itron stock. The shares were purchased at an average price of $69.44 per share, with a total value of $37,619,328.32.

Itron, Inc. (NASDAQ:ITRI) opened at $71.70 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2,757.24, a P/E ratio of 41.93, a price-to-earnings-growth ratio of 1.03 and a beta of 1.00. Itron, Inc. has a 1 year low of $57.80 and a 1 year high of $79.95.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.12). The business had revenue of $486.75 million during the quarter, compared to the consensus estimate of $526.55 million. Itron had a return on equity of 14.84% and a net margin of 3.42%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. equities analysts anticipate that Itron, Inc. will post 2.99 earnings per share for the current year.

ITRI has been the subject of several research reports. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, September 18th. Canaccord Genuity downgraded Itron from a “buy” rating to a “hold” rating and set a $78.00 price objective on the stock. in a research note on Tuesday, September 19th. JMP Securities set a $102.00 price objective on Itron and gave the company a “buy” rating in a research note on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of Itron in a research note on Friday, November 3rd. Finally, Argus downgraded Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Itron currently has an average rating of “Buy” and an average target price of $82.18.

A number of hedge funds and other institutional investors have recently modified their holdings of ITRI. Point72 Asset Management L.P. bought a new position in Itron in the 3rd quarter worth approximately $23,661,000. Cramer Rosenthal Mcglynn LLC bought a new position in Itron in the 3rd quarter worth approximately $18,102,000. Renaissance Technologies LLC increased its position in Itron by 38.1% in the 2nd quarter. Renaissance Technologies LLC now owns 719,661 shares of the scientific and technical instruments company’s stock worth $48,757,000 after buying an additional 198,700 shares during the period. Neuberger Berman Group LLC increased its position in Itron by 13.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 688,848 shares of the scientific and technical instruments company’s stock worth $53,351,000 after buying an additional 82,196 shares during the period. Finally, Gotham Asset Management LLC bought a new position in Itron in the 2nd quarter worth approximately $4,886,000. 93.54% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Itron, Inc. (ITRI) Major Shareholder Purchases $1,500,282.00 in Stock” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/01/13/insider-buying-itron-inc-itri-major-shareholder-purchases-1500282-00-in-stock.html.

About Itron

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