Itron (ITRI) Major Shareholder Purchases $6,772,414.86 in Stock

Itron (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp purchased 114,129 shares of the company’s stock in a transaction dated Monday, May 21st. The stock was purchased at an average price of $59.34 per share, for a total transaction of $6,772,414.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

NASDAQ ITRI opened at $58.90 on Wednesday. The firm has a market cap of $2.35 billion, a P/E ratio of 19.25, a P/E/G ratio of 0.94 and a beta of 1.00. The company has a current ratio of 1.46, a quick ratio of 1.13 and a debt-to-equity ratio of 1.57. Itron has a fifty-two week low of $57.96 and a fifty-two week high of $79.95.

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Itron (NASDAQ:ITRI) last released its earnings results on Monday, May 14th. The scientific and technical instruments company reported $0.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $607.00 million for the quarter, compared to the consensus estimate of $575.74 million. Itron had a positive return on equity of 13.59% and a negative net margin of 4.85%. Itron’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. equities research analysts anticipate that Itron will post 3.02 EPS for the current year.

ITRI has been the topic of a number of research reports. ValuEngine downgraded Itron from a “buy” rating to a “hold” rating in a research note on Monday, April 23rd. Canaccord Genuity upgraded Itron from a “hold” rating to a “buy” rating and raised their price target for the stock from $78.00 to $84.00 in a research note on Tuesday, February 27th. Macquarie initiated coverage on Itron in a research note on Thursday, March 22nd. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, JMP Securities set a $108.00 price target on Itron and gave the stock a “buy” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $83.36.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adviser Investments LLC purchased a new position in Itron during the first quarter valued at $139,000. Delpha Capital Management LLC bought a new stake in Itron during the fourth quarter valued at about $134,000. Domini Impact Investments LLC bought a new stake in Itron during the first quarter valued at about $223,000. Xact Kapitalforvaltning AB bought a new stake in Itron during the fourth quarter valued at about $214,000. Finally, CIBC Asset Management Inc bought a new stake in Itron during the fourth quarter valued at about $227,000. Institutional investors own 92.50% of the company’s stock.

About Itron

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.