UBS Asset Management Americas Inc. lessened its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 704,374 shares of the scientific and technical instruments company’s stock after selling 49,521 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 1.82% of Itron worth $47,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITRI. PNC Financial Services Group Inc. boosted its position in Itron by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after acquiring an additional 31 shares in the last quarter. LS Investment Advisors LLC boosted its position in Itron by 56.2% during the 1st quarter. LS Investment Advisors LLC now owns 1,892 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 681 shares in the last quarter. Pacad Investment Ltd. boosted its position in Itron by 21.4% during the 2nd quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 300 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Itron by 74.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 897 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Itron by 1.5% during the 1st quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock valued at $144,000 after acquiring an additional 36 shares in the last quarter. 93.66% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on ITRI shares. Zacks Investment Research raised Itron from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. JMP Securities set a $88.00 target price on Itron and gave the company a “buy” rating in a research report on Tuesday, July 18th. BidaskClub cut Itron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $78.00 target price on shares of Itron in a research report on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $80.22.

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Shares of Itron, Inc. (ITRI) opened at 76.60 on Monday. Itron, Inc. has a one year low of $51.55 and a one year high of $77.40. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 94.80 and a beta of 1.08. The stock’s 50 day moving average price is $72.49 and its 200 day moving average price is $67.47.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $0.65 earnings per share. Itron’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts forecast that Itron, Inc. will post $3.07 earnings per share for the current year.

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.

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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