First Mercantile Trust Co. Sells 541 Shares of Itron Inc. (ITRI)
First Mercantile Trust Co. reduced its stake in shares of Itron Inc. (NASDAQ:ITRI) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 15,363 shares of the company’s stock after selling 541 shares during the period. First Mercantile Trust Co.’s holdings in Itron were worth $662,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of ITRI. CWH Capital Management Inc. bought a new stake in Itron during the second quarter valued at approximately $202,000. PineBridge Investments L.P. boosted its stake in Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock valued at $207,000 after buying an additional 175 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Itron by 8.1% in the second quarter. Teacher Retirement System of Texas now owns 5,048 shares of the company’s stock valued at $218,000 after buying an additional 377 shares in the last quarter. Pacad Investment Ltd. bought a new stake in Itron during the first quarter valued at approximately $242,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in Itron during the second quarter valued at approximately $271,000. 96.92% of the stock is owned by hedge funds and other institutional investors.
Itron Inc. (NASDAQ:ITRI) opened at 55.26 on Thursday. The company has a 50-day moving average price of $49.30 and a 200-day moving average price of $44.12. Itron Inc. has a 12-month low of $29.02 and a 12-month high of $55.31. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 41.30 and a beta of 1.66.
Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.22. The business earned $513.02 million during the quarter. Itron had a return on equity of 10.94% and a net margin of 2.62%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share. On average, equities research analysts forecast that Itron Inc. will post $2.33 earnings per share for the current year.
Several brokerages recently weighed in on ITRI. Robert W. Baird set a $56.00 price objective on Itron and gave the stock a “buy” rating in a research report on Sunday, September 4th. Needham & Company LLC increased their price objective on Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. Zacks Investment Research lowered Itron from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Cowen and Company reiterated a “market perform” rating and issued a $50.00 price objective (up from $45.00) on shares of Itron in a research report on Sunday, September 4th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $57.00 price objective (up from $50.00) on shares of Itron in a research report on Friday, September 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $52.25.
In related news, Director Thomas S. Glanville sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $53.15, for a total transaction of $212,600.00. Following the completion of the sale, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $1,104,616.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Scopia Capital Management Lp purchased 83,303 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average cost of $53.84 per share, with a total value of $4,485,033.52. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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