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 business’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $56.98, for a total transaction of $56,980.00. Following the transaction, the director now owns 16,492 shares of the company’s stock, valued at $939,714.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Itron Inc. (NASDAQ:ITRI) opened at 56.31 on Friday. Itron Inc. has a 1-year low of $29.02 and a 1-year high of $57.25. The stock’s 50 day moving average is $52.99 and its 200-day moving average is $45.30. The stock has a market cap of $2.15 billion, a PE ratio of 42.09 and a beta of 1.44.
Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, September 1st. The company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.22. The firm had revenue of $513.02 million for the quarter. Itron had a net margin of 2.62% and a return on equity of 10.94%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned ($0.39) earnings per share. On average, analysts predict that Itron Inc. will post $2.37 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of ITRI. Scopia Capital Management LP increased its position 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 valued at $186,700,000 after buying an additional 940,900 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Itron by 164.6% in the first quarter. UBS Asset Management Americas Inc. now owns 742,060 shares of the company’s stock valued at $30,959,000 after buying an additional 461,562 shares during the last quarter. Frontier Capital Management Co. LLC increased its position 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 valued at $76,456,000 after buying an additional 459,922 shares during the last quarter. Vanguard Group Inc. increased its position 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 valued at $135,568,000 after buying an additional 260,300 shares during the last quarter. Finally, Robecosam AG acquired a new position in shares of Itron during the second quarter valued at about $9,642,000. 96.92% of the stock is currently owned by institutional investors.
ITRI has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, June 28th. TheStreet downgraded shares of Itron from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 price objective on shares of Itron in a research report on Saturday, August 13th. Canaccord Genuity reiterated a “buy” rating and issued a $57.00 price objective (up previously from $50.00) on shares of Itron in a research report on Friday, September 2nd. Finally, Needham & Company LLC upped their price objective on shares of Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.71.
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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