Zacks Investment Management decreased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 17.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,931 shares of the scientific and technical instruments company’s stock after selling 3,024 shares during the quarter. Zacks Investment Management’s holdings in Itron were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITRI. PNC Financial Services Group Inc. grew its position in Itron by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock worth $109,000 after acquiring an additional 31 shares during the last quarter. SG Americas Securities LLC raised its position in Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock valued at $144,000 after purchasing an additional 36 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Itron by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,810 shares of the scientific and technical instruments company’s stock valued at $656,000 after purchasing an additional 60 shares during the last quarter. Hanseatic Management Services Inc. raised its position in Itron by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 23,807 shares of the scientific and technical instruments company’s stock valued at $1,613,000 after purchasing an additional 61 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Itron by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the scientific and technical instruments company’s stock valued at $928,000 after purchasing an additional 100 shares during the last quarter. 93.66% of the stock is currently owned by institutional investors.

Shares of Itron, Inc. (NASDAQ ITRI) opened at 77.90 on Tuesday. Itron, Inc. has a 52-week low of $51.55 and a 52-week high of $78.00. The firm has a market cap of $3.01 billion, a P/E ratio of 96.41 and a beta of 1.10. The firm’s 50-day moving average is $73.45 and its 200-day moving average is $68.56.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $503.10 million for the quarter, compared to analysts’ expectations of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. Analysts anticipate that Itron, Inc. will post $3.07 earnings per share for the current year.

ITRI has been the topic of a number of recent research reports. Zacks Investment Research lowered Itron from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub raised Itron from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective (up previously from $74.00) on shares of Itron in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $78.00 price objective (up previously from $75.00) on shares of Itron in a report on Friday, August 4th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $77.00 price objective on shares of Itron in a report on Tuesday, September 12th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Itron presently has a consensus rating of “Buy” and an average price target of $80.22.

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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.

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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