Insider Selling: Itron Inc. (ITRI) Director Sells 1,226 Shares of Stock
Itron Inc. (NASDAQ:ITRI) Director Thomas S. Glanville sold 1,226 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $56.50, for a total transaction of $69,269.00. Following the transaction, the director now directly owns 18,453 shares of the company’s stock, valued at $1,042,594.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Itron Inc. (NASDAQ:ITRI) traded up 0.51% during midday trading on Wednesday, hitting $55.52. 216,784 shares of the stock traded hands. The stock has a 50-day moving average of $53.63 and a 200 day moving average of $45.61. Itron Inc. has a 52-week low of $29.02 and a 52-week high of $57.25. The firm has a market cap of $2.12 billion, a PE ratio of 41.49 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. Itron had a net margin of 2.62% and a return on equity of 10.94%. The company had revenue of $513.02 million for the quarter. During the same period in the previous year, the company earned ($0.39) EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts forecast that Itron Inc. will post $2.37 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Scopia Capital Management LP boosted its position in 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 during the last quarter. UBS Asset Management Americas Inc. boosted its position in Itron by 164.6% in the first quarter. UBS Asset Management Americas Inc. now owns 742,060 shares of the company’s stock worth $30,959,000 after buying an additional 461,562 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in 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 during the last quarter. Vanguard Group Inc. boosted its position in 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 during the last quarter. Finally, Robecosam AG bought a new position in Itron during the second quarter worth approximately $9,642,000. 96.92% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on ITRI shares. Zacks Investment Research raised shares of Itron from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, June 28th. Canaccord Genuity reissued a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of Itron in a research note on Monday, October 3rd. Needham & Company LLC lifted their price objective on shares of Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 2nd. TheStreet raised shares of Itron from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Finally, Robert W. Baird set a $56.00 price objective on shares of Itron and gave the stock a “buy” rating in a research note on Sunday, September 4th. One research 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. The stock presently has a consensus rating of “Buy” and an average price target 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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