Scopia Capital Management Lp Acquires 11,315 Shares of Itron, Inc. (ITRI) Stock

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp bought 11,315 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was purchased at an average price of $68.02 per share, for a total transaction of $769,646.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Thursday, December 28th, Scopia Capital Management Lp acquired 23,736 shares of Itron stock. The shares were bought at an average price of $68.09 per share, for a total transaction of $1,616,184.24.
  • On Tuesday, December 26th, Scopia Capital Management Lp acquired 21,829 shares of Itron stock. The shares were bought at an average price of $67.91 per share, for a total transaction of $1,482,407.39.
  • On Thursday, December 21st, Scopia Capital Management Lp acquired 38,925 shares of Itron stock. The shares were bought at an average price 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 bought at an average price of $69.91 per share, for a total transaction of $151,005.60.
  • On Tuesday, December 12th, Scopia Capital Management Lp bought 13,480 shares of Itron stock. The shares were acquired at an average cost of $69.32 per share, with a total value of $934,433.60.
  • On Wednesday, December 6th, Scopia Capital Management Lp bought 75,193 shares of Itron stock. The shares were acquired at an average cost of $67.34 per share, with a total value of $5,063,496.62.
  • On Friday, December 8th, Scopia Capital Management Lp bought 541,753 shares of Itron stock. The shares were acquired at an average cost of $69.44 per share, with a total value of $37,619,328.32.

Shares of Itron, Inc. (NASDAQ:ITRI) opened at $69.30 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67. The company has a market capitalization of $2,680.00, a P/E ratio of 40.53, a price-to-earnings-growth ratio of 1.09 and a beta of 1.00. Itron, Inc. has a one year low of $57.80 and a one year high of $79.95.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 EPS 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 analysts’ expectations of $526.55 million. Itron had a net margin of 3.42% and a return on equity of 14.84%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. equities research analysts predict that Itron, Inc. will post 2.99 earnings per share for the current year.

ITRI has been the subject of several recent analyst reports. Zacks Investment Research raised Itron from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, September 11th. Argus reaffirmed a “buy” rating and issued a $80.00 price objective (up from $78.00) on shares of Itron in a research note on Tuesday, September 12th. Robert W. Baird reissued a “hold” rating and set a $77.00 target price on shares of Itron in a research note on Tuesday, September 12th. Canaccord Genuity cut Itron from a “buy” rating to a “hold” rating and set a $78.00 target price for the company. in a research note on Tuesday, September 19th. Finally, JMP Securities set a $102.00 target price on Itron and gave the stock a “buy” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Itron has a consensus rating of “Buy” and a consensus price target of $82.18.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Itron by 0.9% during the 2nd quarter. BlackRock Inc. now owns 4,377,905 shares of the scientific and technical instruments company’s stock worth $296,603,000 after purchasing an additional 38,104 shares during the period. State Street Corp increased its position in Itron by 5.4% during the 2nd quarter. State Street Corp now owns 839,226 shares of the scientific and technical instruments company’s stock worth $56,857,000 after purchasing an additional 43,230 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Itron by 38.1% in the 2nd quarter. Renaissance Technologies LLC now owns 719,661 shares of the scientific and technical instruments company’s stock worth $48,757,000 after acquiring an additional 198,700 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of Itron by 13.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 688,848 shares of the scientific and technical instruments company’s stock worth $53,351,000 after acquiring an additional 82,196 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Itron by 4.9% in the 2nd quarter. Northern Trust Corp now owns 466,579 shares of the scientific and technical instruments company’s stock worth $31,611,000 after acquiring an additional 21,803 shares during the period. Institutional investors own 93.54% of the company’s stock.

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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.

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