Itron, Inc. (ITRI) Major Shareholder Scopia Capital Management Lp Acquires 21,870 Shares

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp acquired 21,870 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was purchased at an average cost of $68.60 per share, with a total value of $1,500,282.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Thursday, December 27th, Scopia Capital Management Lp bought 11,315 shares of Itron stock. The shares were bought at an average cost of $68.02 per share, with a total value of $769,646.30.
  • On Thursday, December 28th, Scopia Capital Management Lp bought 23,736 shares of Itron stock. The shares were bought at an average cost of $68.09 per share, with a total value of $1,616,184.24.
  • On Tuesday, December 26th, Scopia Capital Management Lp bought 21,829 shares of Itron stock. The shares were bought at an average cost of $67.91 per share, with a total value of $1,482,407.39.
  • On Thursday, December 21st, Scopia Capital Management Lp bought 38,925 shares of Itron stock. The shares were bought at an average cost of $69.44 per share, with a total value of $2,702,952.00.
  • On Thursday, December 14th, Scopia Capital Management Lp bought 2,160 shares of Itron stock. The shares were bought at an average cost of $69.91 per share, with a total value of $151,005.60.
  • On Tuesday, December 12th, Scopia Capital Management Lp bought 13,480 shares of Itron stock. The shares were bought 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 bought 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 bought at an average cost of $69.44 per share, with a total value of $37,619,328.32.

Itron, Inc. (NASDAQ:ITRI) traded up $0.85 during midday trading on Thursday, hitting $70.15. 358,000 shares of the stock traded hands, compared to its average volume of 514,200. 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 twelve month low of $57.80 and a twelve month high of $79.95. The stock has a market capitalization of $2,683.66, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 0.93 and a beta of 1.00.

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). Itron had a net margin of 3.42% and a return on equity of 14.84%. The business had revenue of $486.75 million during the quarter, compared to analysts’ expectations of $526.55 million. During the same period in the previous year, the business posted $0.77 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. analysts forecast that Itron, Inc. will post 2.99 EPS for the current fiscal year.

Several research analysts have weighed in on ITRI shares. Canaccord Genuity lowered shares of 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. Robert W. Baird reaffirmed a “hold” rating and set a $77.00 target price on shares of Itron in a research note on Tuesday, September 12th. JMP Securities set a $102.00 target price on shares of Itron and gave the stock a “buy” rating in a research note on Thursday, October 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of Itron in a research note on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Itron from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $82.18.

Several hedge funds and other institutional investors have recently bought and sold shares of ITRI. PNC Financial Services Group Inc. boosted its stake in shares of Itron by 2.0% in the second 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 purchasing an additional 31 shares during the period. Pacad Investment Ltd. boosted its stake in shares of Itron by 21.4% in the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after purchasing an additional 300 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Itron by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock valued at $142,000 after purchasing an additional 897 shares during the period. Macquarie Group Ltd. acquired a new stake in Itron in the third quarter valued at approximately $152,000. Finally, Royal Bank of Canada raised its holdings in Itron by 10.9% in the second 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 in the last quarter. 93.54% of the stock is owned by institutional investors and hedge funds.

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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.

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