Daiwa SB Investments Ltd. raised its position in Itron, Inc. (NASDAQ:ITRI) by 72.1% during the 3rd quarter, Holdings Channel reports. The firm owned 171,151 shares of the scientific and technical instruments company’s stock after acquiring an additional 71,674 shares during the quarter. Itron comprises about 2.2% of Daiwa SB Investments Ltd.’s holdings, making the stock its 13th biggest position. Daiwa SB Investments Ltd.’s holdings in Itron were worth $10,988,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp grew its holdings in Itron by 1.4% in the second quarter. Northern Trust Corp now owns 463,790 shares of the scientific and technical instruments company’s stock valued at $27,852,000 after purchasing an additional 6,409 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Itron by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 1,156,253 shares of the scientific and technical instruments company’s stock valued at $69,432,000 after acquiring an additional 22,218 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of Itron by 23.2% during the second quarter. Putnam Investments LLC now owns 72,345 shares of the scientific and technical instruments company’s stock valued at $4,345,000 after acquiring an additional 13,600 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Itron during the second quarter valued at $750,000. Finally, Scopia Capital Management LP boosted its stake in shares of Itron by 5.0% during the second quarter. Scopia Capital Management LP now owns 5,484,889 shares of the scientific and technical instruments company’s stock valued at $329,368,000 after acquiring an additional 262,749 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.
In related news, insider Philip Mezey sold 16,694 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $65.04, for a total transaction of $1,085,777.76. Following the transaction, the insider now directly owns 93,341 shares in the company, valued at $6,070,898.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.32% of the company’s stock.
A number of research firms recently commented on ITRI. BidaskClub lowered Itron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 25th. Argus raised Itron from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Wednesday, August 22nd. Guggenheim set a $73.00 price objective on Itron and gave the company a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research raised Itron from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, ValuEngine raised Itron from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $80.18.
NASDAQ ITRI opened at $58.25 on Wednesday. Itron, Inc. has a twelve month low of $55.26 and a twelve month high of $79.95. The stock has a market cap of $2.52 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.86. The company has a current ratio of 1.51, a quick ratio of 1.18 and a debt-to-equity ratio of 1.61.
Itron (NASDAQ:ITRI) last released its earnings results on Monday, August 6th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Itron had a positive return on equity of 12.86% and a negative net margin of 5.18%. The firm had revenue of $585.89 million for the quarter, compared to the consensus estimate of $592.12 million. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities analysts anticipate that Itron, Inc. will post 2.79 EPS for the current year.
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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