Itron, Inc. (ITRI) Stake Lifted by Systematic Financial Management LP
Systematic Financial Management LP lifted its holdings in Itron, Inc. (NASDAQ:ITRI) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,495 shares of the scientific and technical instruments company’s stock after purchasing an additional 120 shares during the quarter. Systematic Financial Management LP owned 0.07% of Itron worth $1,795,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC grew its stake in shares of Itron by 56.2% in the first quarter. LS Investment Advisors LLC now owns 1,892 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 681 shares in the last quarter. Pacad Investment Ltd. grew its stake in shares of Itron by 21.4% in the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock worth $144,000 after purchasing an additional 36 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Itron by 21.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,492 shares of the scientific and technical instruments company’s stock worth $152,000 after purchasing an additional 444 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Itron in the first quarter worth $175,000. 93.81% of the stock is owned by institutional investors.
Shares of Itron, Inc. (NASDAQ:ITRI) opened at 72.00 on Friday. Itron, Inc. has a one year low of $51.55 and a one year high of $75.60. The stock has a market capitalization of $2.79 billion, a P/E ratio of 89.11 and a beta of 1.08. The stock’s 50 day moving average price is $72.27 and its 200 day moving average price is $67.11.
Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The company had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. On average, analysts forecast that Itron, Inc. will post $3.07 EPS for the current year.
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Several research analysts have recently issued reports on the company. Cowen and Company set a $60.00 price target on Itron and gave the stock a “hold” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $78.00 target price (up previously from $75.00) on shares of Itron in a research note on Friday, August 4th. Robert W. Baird reaffirmed a “hold” rating and set a $77.00 target price on shares of Itron in a research note on Tuesday. BidaskClub cut Itron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Guggenheim assumed coverage on Itron in a research note on Tuesday, June 20th. They set a “buy” rating and a $81.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Itron has a consensus rating of “Buy” and an average target price of $80.11.
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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