Itron, Inc. (ITRI) Major Shareholder Scopia Capital Management Lp Acquires 13,480 Shares of Stock
Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp acquired 13,480 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average price of $69.32 per share, with a total value of $934,433.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Scopia Capital Management Lp also recently made the following trade(s):
- On Wednesday, December 6th, Scopia Capital Management Lp bought 75,193 shares of Itron stock. The stock was bought at an average cost of $67.34 per share, with a total value of $5,063,496.62.
- On Friday, December 8th, Scopia Capital Management Lp bought 541,753 shares of Itron stock. The stock was bought at an average cost of $69.44 per share, with a total value of $37,619,328.32.
Itron, Inc. (ITRI) traded down $0.70 during trading hours on Thursday, reaching $70.30. 378,336 shares of the company’s stock were exchanged, compared to its average volume of 208,066. Itron, Inc. has a fifty-two week low of $57.80 and a fifty-two week high of $79.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67. The company has a market cap of $2,730.00, a P/E ratio of 25.84, a PEG ratio of 1.12 and a beta of 1.00.
Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. bought a new stake in shares of Itron during the 3rd quarter valued at $620,000. Delta Lloyd Asset Management N.V. bought a new stake in shares of Itron during the 2nd quarter valued at $4,743,000. Municipal Employees Retirement System of Michigan grew its position in shares of Itron by 39.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,080 shares of the scientific and technical instruments company’s stock valued at $1,323,000 after acquiring an additional 4,870 shares during the period. Laurion Capital Management LP bought a new stake in shares of Itron during the 2nd quarter valued at $906,000. Finally, Shelton Capital Management bought a new stake in shares of Itron during the 2nd quarter valued at $563,000. 93.74% of the stock is owned by hedge funds and other institutional investors.
ITRI has been the subject of a number of research analyst reports. 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, August 28th. JMP Securities set a $102.00 target price on shares of Itron and gave the stock a “buy” rating in a research report on Thursday, October 12th. Argus reaffirmed a “buy” rating and issued a $80.00 target price (up previously from $78.00) on shares of Itron in a research report on Tuesday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 target price on shares of Itron in a research report on Friday, November 3rd. Finally, Canaccord Genuity downgraded shares of Itron from a “buy” rating to a “hold” rating and set a $78.00 target price for the company. in a research report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Itron currently has an average rating of “Hold” and a consensus price target of $81.78.
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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