Daiwa Securities Group Inc. decreased its position in Itron, Inc. (NASDAQ:ITRI) by 44.3% during the second quarter, Holdings Channel reports. The fund owned 14,485 shares of the scientific and technical instruments company’s stock after selling 11,540 shares during the period. Daiwa Securities Group Inc.’s holdings in Itron were worth $981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC purchased a new position in Itron during the fourth quarter worth approximately $1,412,000. Guggenheim Capital LLC purchased a new position in Itron during the fourth quarter worth approximately $1,316,000. AQR Capital Management LLC boosted its position in Itron by 11.1% in the fourth quarter. AQR Capital Management LLC now owns 14,514 shares of the scientific and technical instruments company’s stock worth $912,000 after buying an additional 1,450 shares during the last quarter. Norges Bank purchased a new position in Itron during the fourth quarter worth approximately $15,064,000. Finally, Teachers Advisors LLC boosted its position in Itron by 376.4% in the fourth quarter. Teachers Advisors LLC now owns 276,822 shares of the scientific and technical instruments company’s stock worth $17,398,000 after buying an additional 218,716 shares during the last quarter. 94.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of Itron, Inc. (NASDAQ ITRI) opened at 72.65 on Friday. Itron, Inc. has a 12-month low of $44.00 and a 12-month high of $75.60. The company has a 50-day moving average of $71.02 and a 200 day moving average of $65.55. The firm has a market capitalization of $2.81 billion, a PE ratio of 89.91 and a beta of 1.10.

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

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ITRI has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Itron from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, May 2nd. Canaccord Genuity reissued a “buy” rating and set a $72.00 target price on shares of Itron in a research report on Friday, May 26th. Guggenheim initiated coverage on shares of Itron in a research report on Tuesday, June 20th. They set a “buy” rating and a $81.00 target price on the stock. BidaskClub cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $73.00 price target on shares of Itron in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Itron presently has an average rating of “Buy” and an average price target of $79.00.

About Itron

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.

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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