Insider Buying: Itron Inc. (ITRI) Major Shareholder Purchases $4,485,033.52 in Stock
Itron Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp bought 83,303 shares of Itron stock in a transaction on Tuesday, September 13th. The stock was acquired at an average cost of $53.84 per share, with a total value of $4,485,033.52. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Itron Inc. (NASDAQ:ITRI) opened at 54.38 on Tuesday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 40.64 and a beta of 1.66. Itron Inc. has a 52-week low of $29.02 and a 52-week high of $54.73. The company’s 50-day moving average price is $48.63 and its 200 day moving average price is $43.94.
Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, September 1st. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.22. The company earned $513.02 million during the quarter. Itron had a return on equity of 10.94% and a net margin of 2.62%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) EPS. On average, equities research analysts predict that Itron Inc. will post $2.33 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ITRI. Scopia Capital Management LP raised its stake in Itron by 26.6% in the first quarter. Scopia Capital Management LP now owns 4,475,083 shares of the company’s stock worth $186,700,000 after buying an additional 940,900 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Itron by 9.0% in the second quarter. Vanguard Group Inc. now owns 3,145,447 shares of the company’s stock valued at $135,568,000 after buying an additional 260,300 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Itron by 1.0% in the first quarter. BlackRock Fund Advisors now owns 2,418,347 shares of the company’s stock valued at $100,893,000 after buying an additional 24,259 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Itron by 35.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,773,931 shares of the company’s stock valued at $76,456,000 after buying an additional 459,922 shares in the last quarter. Finally, Impax Asset Management LTD raised its stake in shares of Itron by 3.4% in the second quarter. Impax Asset Management LTD now owns 1,443,484 shares of the company’s stock valued at $62,213,000 after buying an additional 48,095 shares in the last quarter. Institutional investors own 96.92% of the company’s stock.
ITRI has been the subject of a number of research analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $47.00 target price on shares of Itron in a report on Saturday, August 13th. TheStreet raised Itron from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Canaccord Genuity reissued a “buy” rating and issued a $57.00 target price (up previously from $50.00) on shares of Itron in a report on Friday, September 2nd. Zacks Investment Research raised Itron from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a report on Friday, September 9th. Finally, Cowen and Company reissued a “market perform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Itron in a report on Sunday, September 4th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Itron has a consensus rating of “Buy” and an average target price of $52.25.
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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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