Jon E. Eliassen Sells 1,000 Shares of Itron Inc. (ITRI) Stock
Itron Inc. (NASDAQ:ITRI) Director Jon E. Eliassen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $56.98, for a total value of $56,980.00. Following the transaction, the director now directly owns 16,492 shares in the company, valued at $939,714.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Itron Inc. (NASDAQ:ITRI) opened at 56.31 on Friday. The company’s 50-day moving average price is $52.99 and its 200 day moving average price is $45.30. The company has a market cap of $2.15 billion, a P/E ratio of 42.09 and a beta of 1.44. Itron Inc. has a one year low of $29.02 and a one year high of $57.25.
Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.22. Itron had a return on equity of 10.94% and a net margin of 2.62%. The business had revenue of $513.02 million for the quarter. During the same quarter in the previous year, the business earned ($0.39) earnings per share. Itron’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that Itron Inc. will post $2.37 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $61.00 target price (up from $57.00) on shares of Itron in a research report on Monday, October 3rd. Zacks Investment Research raised Itron from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Friday, September 9th. Cowen and Company reaffirmed a “market perform” rating and set a $50.00 target price (up from $45.00) on shares of Itron in a research report on Sunday, September 4th. Robert W. Baird set a $56.00 target price on Itron and gave the stock a “buy” rating in a research report on Sunday, September 4th. Finally, Needham & Company LLC upped their target price on Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Itron has an average rating of “Buy” and an average target price of $54.71.
Several large investors have recently modified their holdings of the company. Scopia Capital Management LP raised its stake in shares of Itron by 26.6% in the first quarter. Scopia Capital Management LP now owns 4,475,083 shares of the company’s stock worth $186,700,000 after buying an additional 940,900 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Itron by 9.0% in the second quarter. Vanguard Group Inc. now owns 3,145,447 shares of the company’s stock worth $135,568,000 after buying an additional 260,300 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Itron by 1.0% in the first quarter. BlackRock Fund Advisors now owns 2,418,347 shares of the company’s stock worth $100,893,000 after buying an additional 24,259 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Itron by 35.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,773,931 shares of the company’s stock worth $76,456,000 after buying an additional 459,922 shares in the last quarter. Finally, Impax Asset Management LTD raised its stake in shares of Itron by 3.4% in the second quarter. Impax Asset Management LTD now owns 1,443,484 shares of the company’s stock worth $62,213,000 after buying an additional 48,095 shares in the last quarter. Hedge funds and other institutional investors own 96.92% of the company’s stock.
Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage, and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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