OppenheimerFunds Inc. cut its stake in Itron, Inc. (NASDAQ:ITRI) by 16.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,344 shares of the scientific and technical instruments company’s stock after selling 3,126 shares during the quarter. OppenheimerFunds Inc.’s holdings in Itron were worth $1,169,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in ITRI. Delpha Capital Management LLC bought a new stake in shares of Itron in the fourth quarter worth approximately $134,000. Capital Analysts LLC grew its stake in shares of Itron by 3,048.8% in the fourth quarter. Capital Analysts LLC now owns 3,936 shares of the scientific and technical instruments company’s stock worth $192,000 after acquiring an additional 3,811 shares during the period. Xact Kapitalforvaltning AB bought a new stake in shares of Itron in the fourth quarter worth approximately $214,000. Domini Impact Investments LLC bought a new stake in shares of Itron in the first quarter worth approximately $223,000. Finally, Suntrust Banks Inc. bought a new stake in shares of Itron in the fourth quarter worth approximately $236,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Shares of Itron opened at $60.60 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.46 and a quick ratio of 1.13. The company has a market cap of $2.30 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95. Itron, Inc. has a 12-month low of $56.70 and a 12-month high of $79.95.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, May 14th. The scientific and technical instruments company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Itron had a negative net margin of 4.85% and a positive return on equity of 13.59%. The business had revenue of $607.00 million for the quarter, compared to the consensus estimate of $575.74 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. equities research analysts anticipate that Itron, Inc. will post 3.02 EPS for the current year.
In other news, major shareholder Scopia Capital Management Lp purchased 128,620 shares of the stock in a transaction on Wednesday, May 23rd. The shares were acquired at an average price of $59.66 per share, with a total value of $7,673,469.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Philip Mezey sold 16,694 shares of Itron stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $65.15, for a total transaction of $1,087,614.10. Following the transaction, the insider now directly owns 93,341 shares in the company, valued at approximately $6,081,166.15. The disclosure for this sale can be found here. 2.03% of the stock is owned by insiders.
A number of brokerages have recently commented on ITRI. BidaskClub lowered shares of Itron from a “sell” rating to a “strong sell” rating in a research note on Friday, June 15th. Macquarie began coverage on shares of Itron in a research report on Thursday, March 22nd. They set a “neutral” rating for the company. Zacks Investment Research upgraded shares of Itron from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. Canaccord Genuity restated a “buy” rating and set a $84.00 target price on shares of Itron in a research report on Wednesday, April 4th. Finally, Cowen upgraded shares of Itron from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $84.00 in a research report on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $83.60.
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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