Insider Buying: Itron, Inc. (ITRI) Major Shareholder Buys 21,829 Shares of Stock

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp acquired 21,829 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were purchased at an average cost of $67.91 per share, for a total transaction of $1,482,407.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Scopia Capital Management Lp also recently made the following trade(s):

  • On Thursday, December 21st, Scopia Capital Management Lp acquired 38,925 shares of Itron stock. The shares were purchased at an average cost of $69.44 per share, for a total transaction of $2,702,952.00.
  • On Thursday, December 14th, Scopia Capital Management Lp acquired 2,160 shares of Itron stock. The shares were purchased at an average cost of $69.91 per share, for a total transaction of $151,005.60.
  • On Tuesday, December 12th, Scopia Capital Management Lp acquired 13,480 shares of Itron stock. The shares were purchased at an average cost of $69.32 per share, for a total transaction of $934,433.60.
  • On Wednesday, December 6th, Scopia Capital Management Lp acquired 75,193 shares of Itron stock. The shares were purchased at an average cost of $67.34 per share, for a total transaction of $5,063,496.62.
  • On Friday, December 8th, Scopia Capital Management Lp acquired 541,753 shares of Itron stock. The shares were purchased at an average cost of $69.44 per share, for a total transaction of $37,619,328.32.

Itron, Inc. (NASDAQ ITRI) traded up $0.40 during midday trading on Thursday, hitting $68.05. The stock had a trading volume of 326,800 shares, compared to its average volume of 213,789. The company has a market cap of $2,620.00, a P/E ratio of 39.80, a P/E/G ratio of 1.08 and a beta of 1.00. The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 0.38. Itron, Inc. has a 52-week low of $57.80 and a 52-week high of $79.95.

Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.12). The company had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. Itron had a net margin of 5.52% and a return on equity of 13.73%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. research analysts expect that Itron, Inc. will post 2.99 EPS for the current fiscal year.

Several analysts have recently issued reports on ITRI shares. Zacks Investment Research raised Itron from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Monday, September 4th. JMP Securities set a $102.00 price objective on Itron and gave the stock a “buy” rating in a report on Thursday, October 12th. Argus reaffirmed a “buy” rating and set a $80.00 price objective (up from $78.00) on shares of Itron in a report on Tuesday, September 12th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of Itron in a research report on Friday, November 3rd. Finally, Canaccord Genuity downgraded Itron from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $81.78.

A number of institutional investors have recently made changes to their positions in ITRI. PNC Financial Services Group Inc. grew its position in Itron by 2.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after acquiring an additional 31 shares during the last quarter. Pacad Investment Ltd. grew its position in Itron by 21.4% in the 2nd quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 300 shares during the last quarter. Riverhead Capital Management LLC grew its position in Itron by 74.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 897 shares during the last quarter. Macquarie Group Ltd. bought a new position in Itron in the 3rd quarter valued at $152,000. Finally, Royal Bank of Canada grew its position in Itron by 10.9% in the 2nd quarter. Royal Bank of Canada now owns 3,042 shares of the scientific and technical instruments company’s stock valued at $206,000 after acquiring an additional 299 shares during the last quarter. 93.54% of the stock is currently owned by institutional investors.

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Itron Company Profile

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.

Insider Buying and Selling by Quarter for Itron (NASDAQ:ITRI)

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