Great West Life Assurance Co. Can Has $163,000 Position in Itron Inc. (ITRI)
Great West Life Assurance Co. Can maintained its stake in Itron Inc. (NASDAQ:ITRI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,918 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Itron were worth $163,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ITRI. Pacad Investment Ltd. purchased a new stake in Itron during the first quarter valued at approximately $242,000. Bbva Compass Bancshares Inc. purchased a new stake in Itron during the second quarter valued at approximately $271,000. Bank of Montreal Can purchased a new stake in Itron during the second quarter valued at approximately $272,000. Chilton Capital Management LLC purchased a new stake in Itron during the first quarter valued at approximately $317,000. Finally, HBK Investments L P purchased a new stake in Itron during the first quarter valued at approximately $397,000. Institutional investors own 96.92% of the company’s stock.
Itron Inc. (NASDAQ:ITRI) traded down 0.40% during trading on Tuesday, reaching $54.16. 186,174 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $48.63 and its 200-day moving average price is $43.94. Itron Inc. has a one year low of $29.02 and a one year high of $54.74. The stock has a market cap of $2.07 billion, a P/E ratio of 40.48 and a beta of 1.66.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.43 by $0.22. Itron had a net margin of 2.62% and a return on equity of 10.94%. The firm earned $513.02 million during the quarter. During the same quarter last year, the company earned ($0.39) EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that Itron Inc. will post $2.33 earnings per share for the current fiscal year.
ITRI has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, June 28th. Needham & Company LLC increased their price objective on shares of Itron from $46.00 to $60.00 and gave the company a “buy” rating in a report on Friday, September 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $57.00 price objective (up from $50.00) on shares of Itron in a report on Friday, September 2nd. TheStreet raised shares of Itron from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Finally, Robert W. Baird set a $56.00 price objective on shares of Itron and gave the company a “buy” rating in a report on Sunday, September 4th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $52.25.
In other Itron news, major shareholder Scopia Capital Management Lp purchased 83,303 shares of Itron stock in a transaction that occurred on Tuesday, September 13th. The stock was purchased at an average price of $53.84 per share, for a total transaction of $4,485,033.52. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas S. Glanville sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $53.15, for a total transaction of $212,600.00. Following the completion of the sale, the director now owns 20,783 shares of the company’s stock, valued at approximately $1,104,616.45. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.
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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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