Bessemer Group Inc. acquired a new position in Itron, Inc. (NASDAQ:ITRI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,000 shares of the scientific and technical instruments company’s stock, valued at approximately $620,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Chicago Equity Partners LLC raised its holdings in Itron by 2.5% in the 3rd quarter. Chicago Equity Partners LLC now owns 35,705 shares of the scientific and technical instruments company’s stock worth $2,765,000 after purchasing an additional 855 shares in the last quarter. Foundry Partners LLC raised its holdings in Itron by 7.4% in the 3rd quarter. Foundry Partners LLC now owns 237,217 shares of the scientific and technical instruments company’s stock worth $18,372,000 after purchasing an additional 16,443 shares in the last quarter. Mesirow Financial Investment Management Equity Management raised its holdings in Itron by 2.5% in the 3rd quarter. Mesirow Financial Investment Management Equity Management now owns 301,105 shares of the scientific and technical instruments company’s stock worth $23,322,000 after purchasing an additional 7,290 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Itron in the 3rd quarter worth $623,000. Finally, Nationwide Fund Advisors raised its holdings in Itron by 1.8% in the 3rd quarter. Nationwide Fund Advisors now owns 53,652 shares of the scientific and technical instruments company’s stock worth $4,155,000 after purchasing an additional 939 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.
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Several research analysts have commented on ITRI shares. Cowen and Company set a $60.00 price objective on shares of Itron and gave the stock a “hold” rating in a report on Friday, July 21st. Robert W. Baird lowered shares of Itron from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $77.00 in a report on Wednesday, July 26th. They noted that the move was a valuation call. BidaskClub lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective (up from $74.00) on shares of Itron in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $78.00 price objective (up from $75.00) on shares of Itron in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Itron has a consensus rating of “Buy” and a consensus target price of $81.78.
Itron, Inc. (NASDAQ ITRI) opened at $65.70 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.67 and a quick ratio of 1.26. The stock has a market cap of $2,570.00, a PE ratio of 24.01, a P/E/G ratio of 1.04 and a beta of 1.07. Itron, Inc. has a 12 month low of $57.80 and a 12 month high of $79.95.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.12). The business had revenue of $486.75 million during the quarter, compared to the consensus estimate of $526.55 million. Itron had a return on equity of 14.84% and a net margin of 3.42%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. analysts anticipate that Itron, Inc. will post 2.99 earnings per share for the current year.
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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