Gotham Asset Management LLC Buys Shares of 72,124 Itron, Inc. (ITRI)

Gotham Asset Management LLC bought a new position in Itron, Inc. (NASDAQ:ITRI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 72,124 shares of the scientific and technical instruments company’s stock, valued at approximately $4,886,000. Gotham Asset Management LLC owned about 0.19% of Itron at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Itron by 2.0% in the second 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. Pacad Investment Ltd. lifted its holdings in shares of Itron by 21.4% in the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock worth $115,000 after acquiring an additional 300 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Itron by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock worth $142,000 after acquiring an additional 897 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of 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 worth $144,000 after acquiring an additional 36 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Itron by 21.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,492 shares of the scientific and technical instruments company’s stock worth $152,000 after acquiring an additional 444 shares during the last quarter. 93.66% of the stock is owned by hedge funds and other institutional investors.

ITRI has been the subject of a number of research reports. Guggenheim initiated coverage on shares of Itron in a report on Tuesday, June 20th. They issued a “buy” rating and a $81.00 target price for the company. BidaskClub cut shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research cut shares of Itron from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Robert W. Baird reissued an “outperform” rating and issued a $73.00 target price on shares of Itron in a report on Thursday, July 13th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $78.00 target price on shares of Itron in a report on Friday, July 14th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Itron presently has a consensus rating of “Buy” and an average target price of $81.78.

Itron, Inc. (NASDAQ:ITRI) opened at 78.35 on Thursday. The firm has a market cap of $3.03 billion, a P/E ratio of 96.97 and a beta of 1.10. The stock has a 50 day moving average price of $74.71 and a 200 day moving average price of $69.30. Itron, Inc. has a 1-year low of $51.55 and a 1-year high of $78.95.

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

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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. 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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