Thomas S. Glanville Sells 2,000 Shares of Itron Inc. (ITRI) Stock
Itron Inc. (NASDAQ:ITRI) Director Thomas S. Glanville sold 2,000 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $60.55, for a total value of $121,100.00. Following the transaction, the director now directly owns 14,227 shares of the company’s stock, valued at $861,444.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Itron Inc. (NASDAQ:ITRI) opened at 64.15 on Thursday. Itron Inc. has a one year low of $29.02 and a one year high of $64.38. The firm’s 50-day moving average is $56.48 and its 200-day moving average is $48.41. The company has a market cap of $2.45 billion, a PE ratio of 85.42 and a beta of 1.26.
Itron (NASDAQ:ITRI) last announced its earnings results on Wednesday, November 2nd. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.16. Itron had a net margin of 1.45% and a return on equity of 12.89%. The business earned $506.86 million during the quarter, compared to the consensus estimate of $481.51 million. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts anticipate that Itron Inc. will post $2.44 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Scopia Capital Management LP acquired a new position in shares of Itron during the third quarter worth $254,176,000. Harris Associates L P increased its position in shares of Itron by 2.8% in the third quarter. Harris Associates L P now owns 3,326,218 shares of the company’s stock worth $185,470,000 after buying an additional 89,279 shares in 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 worth $135,568,000 after buying an additional 260,300 shares in 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 worth $76,456,000 after buying an additional 459,922 shares in the last quarter. Finally, Impax Asset Management LTD increased its position 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. 95.70% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. 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. Needham & Company LLC lifted their price objective on Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. Cowen and Company reissued a “market perform” rating and issued a $50.00 price objective (up from $45.00) on shares of Itron in a research report on Sunday, September 4th. Canaccord Genuity reissued a “buy” rating and issued a $57.00 price objective (up from $50.00) on shares of Itron in a research report on Friday, September 2nd. Finally, Zacks Investment Research raised Itron from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research report on Friday, September 9th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.88.
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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