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.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). Itron had a net margin of 3.42% and a return on equity of 14.84%. The business had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. During the same period in the previous year, the firm earned $0.77 EPS. The company’s revenue was down 4.0% on a year-over-year basis. equities analysts predict that Itron, Inc. will post 2.99 earnings per share for the current year.

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.

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About Itron

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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