Scopia Capital Management Lp Purchases 83,303 Shares of Itron Inc. (ITRI) Stock
Itron Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp bought 83,303 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were acquired at an average price of $53.84 per share, with a total value of $4,485,033.52. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Itron Inc. (NASDAQ:ITRI) opened at 52.60 on Monday. The stock has a 50 day moving average of $47.43 and a 200 day moving average of $43.57. Itron Inc. has a one year low of $29.02 and a one year high of $54.49. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 39.31 and a beta of 1.66.
Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.22. The business had revenue of $513.02 million for the quarter. Itron had a net margin of 2.62% and a return on equity of 10.94%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.39) EPS. Equities research analysts predict that Itron Inc. will post $2.33 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of ITRI. Goldman Sachs Group Inc. raised its stake in shares of Itron by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 220,635 shares of the company’s stock worth $9,205,000 after buying an additional 41,457 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Itron by 164.6% in the first quarter. UBS Asset Management Americas Inc. now owns 742,060 shares of the company’s stock worth $30,959,000 after buying an additional 461,562 shares in the last quarter. UBS Group AG raised its stake in shares of Itron by 3,973.8% in the first quarter. UBS Group AG now owns 55,322 shares of the company’s stock worth $2,308,000 after buying an additional 53,964 shares in the last quarter. State Street Corp raised its stake in shares of Itron by 0.7% in the first quarter. State Street Corp now owns 732,924 shares of the company’s stock worth $30,573,000 after buying an additional 5,180 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Itron during the first quarter worth $802,000. Hedge funds and other institutional investors own 96.92% of the company’s stock.
Several analysts have commented on ITRI shares. Zacks Investment Research upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, June 28th. Needham & Company LLC upped their target price on shares of Itron from $46.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, September 2nd. Canaccord Genuity reiterated a “buy” rating and set a $57.00 target price (up previously from $50.00) on shares of Itron in a research report on Friday, September 2nd. TheStreet upgraded shares of Itron from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Finally, Robert W. Baird set a $56.00 target price on shares of Itron and gave the company a “buy” rating in a research report on Sunday, September 4th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Itron has an average rating of “Buy” and an average target price of $52.25.
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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