Prudential Financial Inc. Has $4,116,000 Position in Itron Inc. (ITRI)
Prudential Financial Inc. boosted its stake in shares of Itron Inc. (NASDAQ:ITRI) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 95,521 shares of the company’s stock after buying an additional 620 shares during the period. Prudential Financial Inc. owned about 0.25% of Itron worth $4,116,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its position in shares of 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 during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Itron during the first quarter valued at approximately $242,000. Bbva Compass Bancshares Inc. purchased a new position in shares of Itron during the second quarter valued at approximately $271,000. Bank of Montreal Can purchased a new position in shares of Itron during the second quarter valued at approximately $272,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Itron during the first quarter valued at approximately $317,000. Institutional investors own 96.90% of the company’s stock.
Shares of Itron Inc. (NASDAQ:ITRI) opened at 54.63 on Tuesday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 40.83 and a beta of 1.43. Itron Inc. has a 1-year low of $29.02 and a 1-year high of $57.25. The stock has a 50 day moving average of $54.20 and a 200-day moving average of $45.93.
Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.22. Itron had a net margin of 2.62% and a return on equity of 10.94%. The company earned $513.02 million during the quarter. During the same quarter last year, the business posted ($0.39) earnings per share. Itron’s revenue was up 9.0% compared to the same quarter last year. Analysts forecast that Itron Inc. will post $2.37 earnings per share for the current year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, June 28th. Canaccord Genuity reiterated a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of Itron in a research report on Monday, October 3rd. Needham & Company LLC upped their price objective on shares of Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. TheStreet upgraded shares of Itron from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Finally, Robert W. Baird set a $56.00 price objective on shares of Itron and gave the stock a “buy” rating in a research report on Sunday, September 4th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $54.71.
In related news, major shareholder Scopia Capital Management Lp bought 83,303 shares of the 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas S. Glanville sold 4,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $1,104,616.45. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.
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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