Pacad Investment Ltd. raised its holdings in Itron, Inc. (NASDAQ:ITRI) by 21.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700 shares of the scientific and technical instruments company’s stock after purchasing an additional 300 shares during the period. Pacad Investment Ltd.’s holdings in Itron were worth $115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in shares of Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock valued at $144,000 after purchasing an additional 36 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Itron by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,810 shares of the scientific and technical instruments company’s stock valued at $656,000 after purchasing an additional 60 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Itron by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the scientific and technical instruments company’s stock valued at $928,000 after purchasing an additional 100 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of Itron by 0.4% in the second quarter. Aperio Group LLC now owns 32,749 shares of the scientific and technical instruments company’s stock valued at $2,219,000 after purchasing an additional 143 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Itron by 1.2% in the first quarter. Arizona State Retirement System now owns 17,334 shares of the scientific and technical instruments company’s stock valued at $1,052,000 after purchasing an additional 200 shares in the last quarter. 93.81% of the stock is currently owned by institutional investors.

Itron, Inc. (NASDAQ ITRI) opened at 72.80 on Friday. The stock has a market cap of $2.82 billion, a P/E ratio of 90.10 and a beta of 1.08. The company’s 50 day moving average is $72.28 and its 200 day moving average is $67.16. Itron, Inc. has a 52 week low of $51.55 and a 52 week high of $75.60.

Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The business 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 firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Equities analysts predict that Itron, Inc. will post $3.07 earnings per share for the current year.

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Several analysts have issued reports on ITRI shares. Zacks Investment Research raised shares of Itron from a “sell” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. JMP Securities set a $88.00 price target on shares of Itron and gave the company a “buy” rating in a report on Tuesday, July 18th. Canaccord Genuity reaffirmed a “buy” rating and issued a $78.00 price target on shares of Itron in a report on Friday, July 14th. Finally, Robert W. Baird downgraded shares of Itron from an “outperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $77.00 in a report 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 eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $80.11.

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. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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