State of Alaska Department of Revenue Increases Position in Itron, Inc. (ITRI)

State of Alaska Department of Revenue raised its position in Itron, Inc. (NASDAQ:ITRI) by 80.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,637 shares of the scientific and technical instruments company’s stock after buying an additional 2,957 shares during the period. State of Alaska Department of Revenue’s holdings in Itron were worth $449,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ITRI. LS Investment Advisors LLC raised its position 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 buying an additional 681 shares during the last quarter. SG Americas Securities LLC raised its position 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 buying an additional 36 shares during the last quarter. Envestnet Asset Management Inc. raised its position 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 buying an additional 444 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Itron during the first quarter valued at $175,000. Finally, Highbridge Capital Management LLC bought a new stake in Itron during the first quarter valued at $232,000. 95.25% of the stock is owned by institutional investors and hedge funds.

Itron, Inc. (NASDAQ ITRI) traded down 2.06% during trading on Friday, reaching $71.15. The company’s stock had a trading volume of 241,683 shares. The company’s 50 day moving average price is $71.69 and its 200 day moving average price is $66.01. Itron, Inc. has a 52 week low of $47.20 and a 52 week high of $75.60. The company has a market cap of $2.75 billion, a P/E ratio of 88.06 and a beta of 1.10.

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

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Several research firms have recently weighed in on ITRI. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $78.00 price objective (up from $75.00) on shares of Itron in a research note on Friday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $84.00 target price (up previously from $74.00) on shares of Itron in a report on Thursday, August 3rd. Cowen and Company set a $74.00 target price on Itron and gave the company a “hold” rating in a report on Thursday, August 3rd. BidaskClub lowered Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Robert W. Baird lowered Itron from an “outperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $77.00 in a report on Wednesday, July 26th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Itron presently has a consensus rating of “Buy” and an average target price 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.

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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