KBC Group NV Has $6.98 Million Position in Itron, Inc. (ITRI)
KBC Group NV increased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,010 shares of the scientific and technical instruments company’s stock after buying an additional 1,907 shares during the period. KBC Group NV owned about 0.27% of Itron worth $6,979,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Credit Suisse AG raised its position in Itron by 25.0% in the first quarter. Credit Suisse AG now owns 106,811 shares of the scientific and technical instruments company’s stock valued at $6,483,000 after buying an additional 21,368 shares during the period. Chicago Equity Partners LLC raised its position in Itron by 12.1% in the first quarter. Chicago Equity Partners LLC now owns 38,700 shares of the scientific and technical instruments company’s stock valued at $2,349,000 after buying an additional 4,180 shares during the period. Bank of New York Mellon Corp raised its position in Itron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 461,181 shares of the scientific and technical instruments company’s stock valued at $27,995,000 after buying an additional 18,598 shares during the period. Redwood Investments LLC bought a new position in Itron during the first quarter valued at about $6,923,000. Finally, Prudential Financial Inc. raised its position in Itron by 24.2% in the first quarter. Prudential Financial Inc. now owns 389,361 shares of the scientific and technical instruments company’s stock valued at $23,634,000 after buying an additional 75,920 shares during the period. Institutional investors own 95.25% of the company’s stock.
Shares of Itron, Inc. (NASDAQ ITRI) opened at 70.20 on Tuesday. The stock’s 50 day moving average price is $71.76 and its 200-day moving average price is $66.13. Itron, Inc. has a 52 week low of $47.58 and a 52 week high of $75.60. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 86.88 and a beta of 1.10.
Itron (NASDAQ:ITRI) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $503.10 million for the quarter, compared to the consensus estimate of $491.80 million. Itron had a net margin of 1.60% and a return on equity of 15.43%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Equities analysts anticipate that Itron, Inc. will post $3.07 earnings per share for the current fiscal year.
ITRI has been the topic of several analyst reports. Zacks Investment Research upgraded Itron from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. JMP Securities set a $88.00 price target on Itron and gave the stock a “buy” rating in a research note on Tuesday, July 18th. BidaskClub lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Canaccord Genuity restated a “buy” rating and set a $78.00 price target on shares of Itron in a research note on Friday, July 14th. Finally, Robert W. Baird lowered Itron from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $77.00 in a research note on Wednesday, July 26th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Itron presently has an average rating of “Buy” and an average target price of $79.00.
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. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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