Itron, Inc. (ITRI) Shares Sold by Kennedy Capital Management Inc.
Kennedy Capital Management Inc. lessened its stake in Itron, Inc. (NASDAQ:ITRI) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 442,230 shares of the scientific and technical instruments company’s stock after selling 73,929 shares during the period. Itron makes up approximately 0.6% of Kennedy Capital Management Inc.’s holdings, making the stock its 5th largest position. Kennedy Capital Management Inc. owned about 1.14% of Itron worth $29,961,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Pacad Investment Ltd. grew its position in Itron by 21.4% in the 2nd quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 300 shares during the period. LS Investment Advisors LLC grew its position in Itron by 56.2% in the 1st quarter. LS Investment Advisors LLC now owns 1,892 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 681 shares during the period. SG Americas Securities LLC grew its position in Itron by 1.5% in the 1st quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock worth $144,000 after purchasing an additional 36 shares during the period. Envestnet Asset Management Inc. grew its position in Itron by 21.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,492 shares of the scientific and technical instruments company’s stock worth $152,000 after purchasing an additional 444 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in Itron in the 1st quarter worth approximately $175,000. 93.81% of the stock is owned by institutional investors and hedge funds.
Shares of Itron, Inc. (NASDAQ:ITRI) traded down 0.49% during midday trading on Wednesday, hitting $71.50. 24,218 shares of the stock were exchanged. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 88.49 and a beta of 1.08. Itron, Inc. has a 12 month low of $51.15 and a 12 month high of $75.60. The firm’s 50-day moving average is $72.56 and its 200-day moving average is $66.80.
Itron (NASDAQ:ITRI) last issued its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Itron had a net margin of 1.60% and a return on equity of 15.43%. The firm had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $491.80 million. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. Equities research analysts predict that Itron, Inc. will post $3.07 earnings per share for the current year.
A number of equities research analysts have commented on the stock. Cowen and Company set a $60.00 target price on shares of Itron and gave the stock a “hold” rating in a research report on Friday, July 21st. Robert W. Baird downgraded shares of Itron from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $77.00 in a research report on Wednesday, July 26th. They noted that the move was a valuation call. BidaskClub downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Itron from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective (up previously from $74.00) on shares of Itron in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $80.13.
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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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