SG Capital Management LLC Acquires Shares of 12,573 Itron, Inc. (ITRI)

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SG Capital Management LLC acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,573 shares of the scientific and technical instruments company’s stock, valued at approximately $807,000.

A number of other institutional investors have also recently added to or reduced their stakes in ITRI. BlackRock Inc. increased its position in Itron by 8.2% during the second quarter. BlackRock Inc. now owns 5,056,574 shares of the scientific and technical instruments company’s stock worth $303,648,000 after purchasing an additional 384,272 shares during the last quarter. Scopia Capital Management LP boosted its stake in Itron by 5.0% during the second quarter. Scopia Capital Management LP now owns 5,484,889 shares of the scientific and technical instruments company’s stock worth $329,368,000 after buying an additional 262,749 shares during the period. First Trust Advisors LP boosted its stake in Itron by 52.1% during the second quarter. First Trust Advisors LP now owns 575,715 shares of the scientific and technical instruments company’s stock worth $34,572,000 after buying an additional 197,199 shares during the period. Raymond James & Associates boosted its stake in Itron by 3,996.2% during the second quarter. Raymond James & Associates now owns 193,176 shares of the scientific and technical instruments company’s stock worth $11,600,000 after buying an additional 188,460 shares during the period. Finally, Robecosam AG boosted its stake in Itron by 40.6% during the second quarter. Robecosam AG now owns 485,000 shares of the scientific and technical instruments company’s stock worth $28,955,000 after buying an additional 140,000 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Shares of NASDAQ ITRI traded up $0.18 during midday trading on Friday, hitting $54.07. The company’s stock had a trading volume of 11,613 shares, compared to its average volume of 289,467. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.18 and a current ratio of 1.51. Itron, Inc. has a 1 year low of $52.88 and a 1 year high of $79.95. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.95 and a beta of 0.86.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Monday, August 6th. The scientific and technical instruments company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Itron had a negative net margin of 5.18% and a positive return on equity of 12.86%. The business had revenue of $585.89 million during the quarter, compared to analyst estimates of $592.12 million. During the same quarter last year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts predict that Itron, Inc. will post 2.79 EPS for the current fiscal year.

In other news, insider Philip Mezey sold 16,694 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $65.04, for a total value of $1,085,777.76. Following the completion of the transaction, the insider now owns 93,341 shares of the company’s stock, valued at $6,070,898.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.03% of the company’s stock.

ITRI has been the subject of several research analyst reports. BidaskClub raised shares of Itron from a “strong sell” rating to a “sell” rating in a research note on Friday, August 24th. ValuEngine lowered shares of Itron from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Cowen set a $80.00 target price on shares of Itron and gave the stock a “buy” rating in a research note on Monday, August 6th. Argus raised shares of Itron from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, August 22nd. Finally, Oppenheimer lowered their target price on shares of Itron from $76.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $80.18.

Itron Company Profile

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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