Bank of New York Mellon Corp increased its position in Itron, Inc. (NASDAQ:ITRI) by 94.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 895,681 shares of the scientific and technical instruments company’s stock after buying an additional 434,500 shares during the period. Bank of New York Mellon Corp owned approximately 2.32% of Itron worth $60,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in Itron by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the scientific and technical instruments company’s stock worth $826,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Itron by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 3,680 shares of the scientific and technical instruments company’s stock worth $223,000 after buying an additional 80 shares during the last quarter. Nationwide Fund Advisors boosted its position in Itron by 41.9% in the first quarter. Nationwide Fund Advisors now owns 43,596 shares of the scientific and technical instruments company’s stock worth $2,646,000 after buying an additional 12,863 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Itron by 36.1% in the first quarter. Russell Investments Group Ltd. now owns 45,846 shares of the scientific and technical instruments company’s stock worth $2,782,000 after buying an additional 12,157 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Itron by 30.0% in the first quarter. Wells Fargo & Company MN now owns 47,204 shares of the scientific and technical instruments company’s stock worth $2,865,000 after buying an additional 10,888 shares during the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.

Itron, Inc. (NASDAQ ITRI) opened at 72.60 on Friday. The company has a market capitalization of $2.81 billion, a PE ratio of 89.85 and a beta of 1.10. Itron, Inc. has a one year low of $51.15 and a one year high of $75.60. The firm’s 50-day moving average is $72.44 and its 200 day moving average is $66.61.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The company had revenue of $503.10 million for the quarter, compared to analyst estimates of $491.80 million. Itron had a net margin of 1.60% and a return on equity of 15.43%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, equities analysts expect that Itron, Inc. will post $3.07 EPS for the current fiscal year.

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ITRI has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Itron from a “buy” rating to a “hold” rating in a report on Thursday, May 18th. Canaccord Genuity restated a “buy” rating and issued a $72.00 price target on shares of Itron in a report on Friday, May 26th. Guggenheim initiated coverage on shares of Itron in a report on Tuesday, June 20th. They issued a “buy” rating and a $81.00 price target on the stock. BidaskClub cut shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Robert W. Baird restated an “outperform” rating and issued a $73.00 price target on shares of Itron in a report on Thursday, July 13th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $80.13.

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.

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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