6 Meridian Buys New Stake in Itron (ITRI)

6 Meridian bought a new position in shares of Itron (NASDAQ:ITRI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,829 shares of the scientific and technical instruments company’s stock, valued at approximately $489,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV raised its position in Itron by 53.9% during the fourth quarter. KBC Group NV now owns 262,572 shares of the scientific and technical instruments company’s stock worth $17,907,000 after acquiring an additional 91,981 shares during the last quarter. Rockefeller Financial Services Inc. raised its position in Itron by 26.2% during the fourth quarter. Rockefeller Financial Services Inc. now owns 12,230 shares of the scientific and technical instruments company’s stock worth $834,000 after acquiring an additional 2,536 shares during the last quarter. Smith Graham & Co. Investment Advisors LP raised its position in Itron by 2.0% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 132,597 shares of the scientific and technical instruments company’s stock worth $9,043,000 after acquiring an additional 2,540 shares during the last quarter. First Trust Advisors LP raised its position in Itron by 14.8% during the fourth quarter. First Trust Advisors LP now owns 228,251 shares of the scientific and technical instruments company’s stock worth $15,567,000 after acquiring an additional 29,441 shares during the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in Itron during the fourth quarter worth about $977,000. Institutional investors own 92.50% of the company’s stock.

In related news, VP Shannon M. Votava sold 6,661 shares of the company’s 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 completion of the transaction, the vice president now owns 16,459 shares of the company’s stock, valued at $1,178,135.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip Mezey sold 3,330 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $68.30, for a total transaction of $227,439.00. Following the transaction, the chief executive officer now directly owns 54,327 shares of the company’s stock, valued at approximately $3,710,534.10. The disclosure for this sale can be found here. Insiders have sold 33,402 shares of company stock valued at $2,275,266 in the last ninety days. 2.32% of the stock is currently owned by company insiders.

Itron opened at $59.85 on Tuesday, Marketbeat Ratings reports. The company has a quick ratio of 1.13, a current ratio of 1.46 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $2.29 billion, a PE ratio of 19.56, a PEG ratio of 0.92 and a beta of 1.00. Itron has a 1-year low of $57.96 and a 1-year high of $79.95.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, May 14th. The scientific and technical instruments company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Itron had a negative net margin of 4.85% and a positive return on equity of 13.59%. The firm had revenue of $607.00 million during the quarter, compared to analyst estimates of $575.74 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. Itron’s revenue for the quarter was up 27.0% compared to the same quarter last year. research analysts anticipate that Itron will post 3.02 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $84.00 price objective on shares of Itron in a research report on Wednesday, May 16th. ValuEngine lowered shares of Itron from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. TheStreet lowered shares of Itron from a “b” rating to a “c” rating in a research report on Monday, May 14th. BidaskClub lowered shares of Itron from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Investment Research lowered shares of Itron from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Itron presently has an average rating of “Buy” and an average target price of $83.36.

Itron Profile

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply