Russell Investments Group Ltd. increased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,882 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,715 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.21% of Itron worth $5,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Scopia Capital Management LP grew its position in Itron by 5.0% during the 2nd quarter. Scopia Capital Management LP now owns 5,484,889 shares of the scientific and technical instruments company’s stock worth $329,368,000 after acquiring an additional 262,749 shares during the last quarter. Northern Trust Corp grew its position in Itron by 1.4% during the 2nd quarter. Northern Trust Corp now owns 463,790 shares of the scientific and technical instruments company’s stock worth $27,852,000 after acquiring an additional 6,409 shares during the last quarter. Putnam Investments LLC grew its position in Itron by 23.2% during the 2nd quarter. Putnam Investments LLC now owns 72,345 shares of the scientific and technical instruments company’s stock worth $4,345,000 after acquiring an additional 13,600 shares during the last quarter. SG Americas Securities LLC grew its position in Itron by 70.2% during the 2nd quarter. SG Americas Securities LLC now owns 19,436 shares of the scientific and technical instruments company’s stock worth $1,167,000 after acquiring an additional 8,015 shares during the last quarter. Finally, Zebra Capital Management LLC bought a new position in Itron during the 2nd quarter worth approximately $431,000. Institutional investors and hedge funds own 92.35% of the company’s stock.
Several equities analysts recently issued reports on ITRI shares. BidaskClub lowered Itron from a “sell” rating to a “strong sell” rating in a research report on Friday, July 27th. Oppenheimer reduced their price target on Itron from $76.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 7th. Robert W. Baird reduced their price target on Itron from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 7th. Cowen set a $80.00 price objective on Itron and gave the stock a “buy” rating in a report on Monday, August 6th. Finally, Guggenheim set a $73.00 price objective on Itron and gave the stock a “buy” rating in a report on Monday, August 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.00.
Itron (NASDAQ:ITRI) last released its quarterly earnings data on Monday, November 5th. The scientific and technical instruments company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.24. Itron had a positive return on equity of 15.20% and a negative net margin of 5.19%. The business had revenue of $595.96 million during the quarter, compared to analysts’ expectations of $604.98 million. During the same quarter last year, the business posted $0.77 EPS. The business’s revenue was up 22.4% on a year-over-year basis. As a group, research analysts expect that Itron, Inc. will post 2.46 earnings per share for the current year.
In other news, Director Gary E. Pruitt bought 10,000 shares of the stock in a transaction dated Wednesday, November 14th. The stock was bought at an average price of $52.73 per share, for a total transaction of $527,300.00. Following the purchase, the director now directly owns 31,305 shares in the company, valued at approximately $1,650,712.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Scopia Capital Management Lp sold 76,694 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $53.64, for a total value of $4,113,866.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,234 shares of company stock valued at $8,260,258. Company insiders own 2.03% of the company’s stock.
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Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.
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