Itron Inc. (ITRI) Director Buys $135,744.12 in Stock
Itron Inc. (NASDAQ:ITRI) Director Daniel S. Pelino acquired 2,322 shares of Itron stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $135,744.12. Following the purchase, the director now directly owns 8,548 shares of the company’s stock, valued at approximately $499,716.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Itron Inc. (NASDAQ:ITRI) opened at 59.35 on Friday. The stock has a 50 day moving average of $55.66 and a 200 day moving average of $47.77. Itron Inc. has a 52-week low of $29.02 and a 52-week high of $61.65. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 79.03 and a beta of 1.26.
Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, November 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.16. The business had revenue of $506.86 million for the quarter, compared to the consensus estimate of $481.51 million. Itron had a net margin of 1.45% and a return on equity of 12.89%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. Equities analysts predict that Itron Inc. will post $2.43 EPS for the current fiscal year.
Several equities analysts recently issued reports on the stock. Robert W. Baird reissued an “outperform” rating and set a $62.00 price objective on shares of Itron in a research note on Friday, November 4th. TheStreet downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of Itron in a research note on Monday, October 3rd. Zacks Investment Research raised shares of Itron from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a research note on Friday, September 9th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $50.00 price target (up previously from $45.00) on shares of Itron in a research note on Sunday, September 4th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $56.13.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MSI Financial Services Inc increased its position in Itron by 21,622.2% in the third quarter. MSI Financial Services Inc now owns 1,955 shares of the company’s stock valued at $109,000 after buying an additional 1,946 shares during the period. Tower Research Capital LLC TRC boosted its stake in Itron by 2,352.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,090 shares of the company’s stock valued at $133,000 after buying an additional 2,964 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Itron during the third quarter valued at approximately $134,000. CWH Capital Management Inc. bought a new stake in Itron during the second quarter valued at approximately $202,000. Finally, PineBridge Investments L.P. boosted its stake in Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock valued at $207,000 after buying an additional 175 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.
Itron Company Profile
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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