Pitcairn Co. lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 36.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,402 shares of the scientific and technical instruments company’s stock after buying an additional 1,448 shares during the quarter. Pitcairn Co.’s holdings in Itron were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in ITRI. Norges Bank purchased a new position in shares of Itron during the fourth quarter valued at about $32,984,000. Impax Asset Management Group plc increased its position in shares of Itron by 14.2% during the first quarter. Impax Asset Management Group plc now owns 2,211,024 shares of the scientific and technical instruments company’s stock valued at $123,028,000 after buying an additional 274,466 shares during the period. Robecosam AG increased its position in shares of Itron by 150.9% during the second quarter. Robecosam AG now owns 420,000 shares of the scientific and technical instruments company’s stock valued at $27,825,000 after buying an additional 252,591 shares during the period. Loomis Sayles & Co. L P grew its holdings in Itron by 100.9% in the first quarter. Loomis Sayles & Co. L P now owns 405,051 shares of the scientific and technical instruments company’s stock worth $22,614,000 after purchasing an additional 203,474 shares during the period. Finally, PGGM Investments grew its holdings in Itron by 417.7% in the first quarter. PGGM Investments now owns 248,489 shares of the scientific and technical instruments company’s stock worth $13,873,000 after purchasing an additional 200,489 shares during the period. Institutional investors own 94.42% of the company’s stock.
Shares of Itron stock opened at $69.56 on Friday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 47.00, a price-to-earnings-growth ratio of 1.84 and a beta of 1.33. The company’s 50 day moving average is $66.61 and its 200 day moving average is $68.96. Itron, Inc. has a twelve month low of $40.48 and a twelve month high of $88.32. The company has a quick ratio of 1.75, a current ratio of 2.08 and a debt-to-equity ratio of 1.75.
Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Monday, May 4th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $598.40 million for the quarter, compared to the consensus estimate of $614.83 million. Itron had a net margin of 2.40% and a return on equity of 16.47%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Sell-side analysts expect that Itron, Inc. will post 1.5 EPS for the current fiscal year.
In related news, CFO Joan S. Hooper sold 504 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.63, for a total transaction of $31,565.52. Following the transaction, the chief financial officer now owns 26,452 shares in the company, valued at $1,656,688.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sharelynn Faye Moore sold 1,531 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $70.07, for a total transaction of $107,277.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,744 shares of company stock worth $380,807. 1.72% of the stock is owned by insiders.
A number of equities research analysts have weighed in on ITRI shares. Oppenheimer cut their price objective on shares of Itron from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, June 26th. Canaccord Genuity restated a “buy” rating on shares of Itron in a report on Thursday, June 18th. Johnson Rice started coverage on shares of Itron in a report on Tuesday, May 26th. They issued a “buy” rating and a $80.00 price objective on the stock. BidaskClub upgraded shares of Itron from a “sell” rating to a “hold” rating in a report on Friday, April 24th. Finally, JMP Securities cut their price objective on shares of Itron from $95.00 to $80.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $81.50.
Itron Company Profile
Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
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