Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp sold 62,058 shares of Itron stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $49.71, for a total transaction of $3,084,903.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Scopia Capital Management Lp also recently made the following trade(s):
- On Thursday, March 14th, Scopia Capital Management Lp sold 26,866 shares of Itron stock. The shares were sold at an average price of $49.99, for a total transaction of $1,343,031.34.
ITRI stock opened at $49.48 on Friday. The stock has a market cap of $1.96 billion, a P/E ratio of 18.67, a P/E/G ratio of 0.81 and a beta of 1.34. Itron, Inc. has a 52 week low of $44.35 and a 52 week high of $76.15. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 1.35.
Itron (NASDAQ:ITRI) last released its quarterly earnings data on Wednesday, February 27th. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.20. The firm had revenue of $587.00 million for the quarter, compared to the consensus estimate of $600.73 million. Itron had a negative net margin of 4.18% and a positive return on equity of 14.92%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities analysts predict that Itron, Inc. will post 2.49 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Itron in the fourth quarter valued at about $18,557,000. Impax Asset Management Group plc lifted its holdings in shares of Itron by 15.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,514,162 shares of the scientific and technical instruments company’s stock valued at $118,895,000 after purchasing an additional 333,843 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Itron by 1,517,410.0% in the third quarter. Clearbridge Investments LLC now owns 303,502 shares of the scientific and technical instruments company’s stock valued at $19,485,000 after purchasing an additional 303,482 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Itron in the fourth quarter valued at about $4,787,000. Finally, Penn Capital Management Co. Inc. purchased a new stake in shares of Itron in the third quarter valued at about $6,256,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on ITRI shares. Cowen set a $67.00 target price on shares of Itron and gave the company a “buy” rating in a report on Thursday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Itron in a report on Thursday, February 28th. BidaskClub raised shares of Itron from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Guggenheim started coverage on shares of Itron in a report on Monday, December 3rd. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Zacks Investment Research raised shares of Itron from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Itron has an average rating of “Hold” and a consensus price target of $72.00.
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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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