Wells Fargo & Company MN Trims Position in Itron, Inc. (ITRI)
Wells Fargo & Company MN decreased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,055 shares of the scientific and technical instruments company’s stock after selling 5,149 shares during the period. Wells Fargo & Company MN owned 0.11% of Itron worth $2,850,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Delta Lloyd Asset Management N.V. acquired a new position in Itron during the 2nd quarter worth about $4,743,000. Credit Suisse AG lifted its position in Itron by 25.0% during the 1st quarter. Credit Suisse AG now owns 106,811 shares of the scientific and technical instruments company’s stock worth $6,483,000 after buying an additional 21,368 shares in the last quarter. HighTower Advisors LLC lifted its position in Itron by 5.9% during the 1st quarter. HighTower Advisors LLC now owns 3,845 shares of the scientific and technical instruments company’s stock worth $234,000 after buying an additional 214 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Itron by 26.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,489 shares of the scientific and technical instruments company’s stock worth $1,253,000 after buying an additional 3,871 shares in the last quarter. Finally, KBC Group NV lifted its position in Itron by 1.9% during the 2nd quarter. KBC Group NV now owns 103,010 shares of the scientific and technical instruments company’s stock worth $6,979,000 after buying an additional 1,907 shares in the last quarter. Institutional investors and hedge funds own 93.66% of the company’s stock.
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Itron, Inc. (ITRI) opened at 79.40 on Friday. Itron, Inc. has a 52-week low of $51.55 and a 52-week high of $79.80. The firm has a market capitalization of $3.07 billion, a P/E ratio of 98.27 and a beta of 1.10. The firm’s 50-day moving average is $76.05 and its 200-day moving average is $70.16.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The company had revenue of $503.10 million for 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 quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. On average, equities analysts expect that Itron, Inc. will post $3.07 earnings per share for the current year.
Several research analysts recently issued reports on ITRI shares. Robert W. Baird reiterated an “outperform” rating and set a $73.00 price target on shares of Itron in a research report on Thursday, July 13th. Canaccord Genuity downgraded shares of Itron from a “buy” rating to a “hold” rating and set a $78.00 price target on the stock. in a research report on Tuesday, September 19th. JMP Securities set a $102.00 price target on shares of Itron and gave the stock a “buy” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Itron from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Cowen and Company set a $60.00 target price on shares of Itron and gave the company a “hold” rating in a research report on Friday, July 21st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $81.78.
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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