Amundi Pioneer Asset Management Inc. acquired a new position in shares of Itron (NASDAQ:ITRI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 183,793 shares of the scientific and technical instruments company’s stock, valued at approximately $12,535,000. Amundi Pioneer Asset Management Inc. owned about 0.47% of Itron at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Itron by 2.1% during the 4th quarter. BlackRock Inc. now owns 4,620,250 shares of the scientific and technical instruments company’s stock worth $315,101,000 after purchasing an additional 94,618 shares during the period. Neuberger Berman Group LLC increased its position in shares of Itron by 13.5% during the third quarter. Neuberger Berman Group LLC now owns 688,848 shares of the scientific and technical instruments company’s stock valued at $53,351,000 after buying an additional 82,196 shares during the period. Allianz Asset Management GmbH increased its position in shares of Itron by 110.3% during the fourth quarter. Allianz Asset Management GmbH now owns 363,312 shares of the scientific and technical instruments company’s stock valued at $24,778,000 after buying an additional 190,565 shares during the period. Geode Capital Management LLC increased its position in shares of Itron by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 316,988 shares of the scientific and technical instruments company’s stock valued at $21,618,000 after buying an additional 9,050 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Itron during the third quarter valued at about $23,661,000. 95.25% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Canaccord Genuity reiterated a “buy” rating and set a $84.00 price target on shares of Itron in a research report on Wednesday. BidaskClub raised Itron from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Macquarie started coverage on Itron in a research note on Thursday, March 22nd. They issued a “neutral” rating for the company. ValuEngine raised Itron from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JMP Securities set a $108.00 target price on Itron and gave the stock a “buy” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $84.18.
ITRI traded down $1.90 during trading on Friday, reaching $68.15. The stock had a trading volume of 162,944 shares, compared to its average volume of 237,166. The company has a current ratio of 1.67, a quick ratio of 1.29 and a debt-to-equity ratio of 0.74. The company has a market cap of $2,666.23, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96. Itron has a one year low of $59.10 and a one year high of $79.95.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $550.78 million during the quarter, compared to the consensus estimate of $532.61 million. Itron had a return on equity of 15.84% and a net margin of 2.84%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. analysts predict that Itron will post 3.05 EPS for the current year.
In other news, VP Shannon M. Votava sold 6,661 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $71.58, for a total value of $476,794.38. Following the sale, the vice president now directly owns 16,459 shares of the company’s stock, valued at $1,178,135.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas S. Glanville sold 2,000 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $74.02, for a total value of $148,040.00. Following the completion of the sale, the director now directly owns 13,390 shares in the company, valued at $991,127.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,708 shares of company stock valued at $1,187,652. 2.03% of the stock is owned by corporate insiders.
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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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