LPL Financial LLC grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 33.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,409 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,858 shares during the period. LPL Financial LLC’s holdings in Itron were worth $732,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. US Bancorp DE raised its stake in Itron by 12.7% in the second quarter. US Bancorp DE now owns 8,010 shares of the scientific and technical instruments company’s stock worth $481,000 after buying an additional 904 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Itron by 21.6% in the second quarter. Cubist Systematic Strategies LLC now owns 5,125 shares of the scientific and technical instruments company’s stock worth $308,000 after buying an additional 909 shares in the last quarter. Ramsey Quantitative Systems raised its stake in Itron by 43.4% in the third quarter. Ramsey Quantitative Systems now owns 6,162 shares of the scientific and technical instruments company’s stock worth $396,000 after buying an additional 1,866 shares in the last quarter. Aperio Group LLC raised its stake in Itron by 6.9% in the third quarter. Aperio Group LLC now owns 30,696 shares of the scientific and technical instruments company’s stock worth $1,971,000 after buying an additional 1,991 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Itron by 3.4% in the third quarter. Russell Investments Group Ltd. now owns 82,882 shares of the scientific and technical instruments company’s stock worth $5,322,000 after buying an additional 2,715 shares in the last quarter. 96.41% of the stock is owned by hedge funds and other institutional investors.
In other Itron news, major shareholder Scopia Capital Management Lp sold 18,859 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $52.30, for a total transaction of $986,325.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary E. Pruitt purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were purchased at an average price of $52.73 per share, for a total transaction of $527,300.00. Following the acquisition, the director now owns 31,305 shares of the company’s stock, valued at $1,650,712.65. The disclosure for this purchase can be found here. Insiders have sold 154,884 shares of company stock valued at $8,239,276 in the last ninety days. Insiders own 2.32% of the company’s stock.
Itron (NASDAQ:ITRI) last announced its earnings results on Monday, November 5th. The scientific and technical instruments company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.24. Itron had a negative net margin of 5.19% and a positive return on equity of 15.20%. The business had revenue of $595.96 million during the quarter, compared to the consensus estimate of $604.98 million. During the same quarter last year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, sell-side analysts anticipate that Itron, Inc. will post 2.46 EPS for the current year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research reissued a “hold” rating on shares of Itron in a research note on Tuesday, November 13th. Guggenheim assumed coverage on shares of Itron in a research note on Monday, December 3rd. They issued a “buy” rating and a $70.00 price target for the company. JMP Securities set a $80.00 price target on shares of Itron and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of Itron in a research note on Friday, November 9th. Finally, BidaskClub downgraded shares of Itron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $74.88.
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Itron Company Profile
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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