BlueCrest Capital Management Ltd bought a new stake in Itron, Inc. (NASDAQ:ITRI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,320 shares of the scientific and technical instruments company’s stock, valued at approximately $977,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Itron by 10.9% during the 2nd quarter. Royal Bank of Canada now owns 3,042 shares of the scientific and technical instruments company’s stock worth $206,000 after purchasing an additional 299 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of Itron by 1.8% during the 3rd quarter. Nationwide Fund Advisors now owns 53,652 shares of the scientific and technical instruments company’s stock valued at $4,155,000 after acquiring an additional 939 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Itron during the 3rd quarter valued at $623,000. Bessemer Group Inc. purchased a new position in shares of Itron during the 3rd quarter valued at $620,000. Finally, Global X MANAGEMENT CO LLC lifted its stake in shares of Itron by 15.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 17,019 shares of the scientific and technical instruments company’s stock valued at $1,318,000 after purchasing an additional 2,268 shares during the last quarter. 95.25% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Oppenheimer reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Itron in a research note on Monday, January 29th. ValuEngine raised shares of Itron from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. BidaskClub raised shares of Itron from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research cut shares of Itron from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, Canaccord Genuity raised shares of Itron from a “hold” rating to a “buy” rating and upped their target price for the company from $78.00 to $84.00 in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Itron presently has a consensus rating of “Buy” and a consensus price target of $84.18.
In related news, VP Shannon M. Votava sold 6,661 shares of Itron stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $71.58, for a total transaction of $476,794.38. Following the sale, the vice president now directly owns 16,459 shares of the company’s stock, valued at approximately $1,178,135.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas S. Glanville sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $74.02, for a total transaction of $148,040.00. Following the sale, the director now directly owns 13,390 shares in the company, valued at $991,127.80. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 117,675 shares of company stock valued at $8,071,472 and have sold 16,708 shares valued at $1,187,652. Company insiders own 2.03% of the company’s stock.
Shares of ITRI stock traded up $0.12 during mid-day trading on Wednesday, hitting $72.97. 29,833 shares of the stock traded hands, compared to its average volume of 274,895. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.67 and a quick ratio of 1.29. Itron, Inc. has a 52 week low of $59.10 and a 52 week high of $79.95. The company has a market capitalization of $2,829.30, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 1.14 and a beta of 1.03.
Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. Itron had a net margin of 2.84% and a return on equity of 15.84%. The business had revenue of $550.78 million during the quarter, compared to the consensus estimate of $532.61 million. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. sell-side analysts predict that Itron, Inc. will post 3.05 earnings per share for the current fiscal year.
Itron Company Profile
Itron, Inc is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. 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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