Insider Buying: Itron, Inc. (ITRI) Major Shareholder Purchases $1,616,184.24 in Stock

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp acquired 23,736 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was acquired at an average cost of $68.09 per share, with a total value of $1,616,184.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock 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 acquired 11,315 shares of Itron stock. The stock was acquired at an average cost of $68.02 per share, with a total value of $769,646.30.
  • On Tuesday, December 26th, Scopia Capital Management Lp acquired 21,829 shares of Itron stock. The stock was acquired 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 acquired 38,925 shares of Itron stock. The stock was acquired 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 acquired 2,160 shares of Itron stock. The stock was acquired 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 acquired 13,480 shares of Itron stock. The stock was 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 acquired 75,193 shares of Itron stock. The stock was 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 acquired 541,753 shares of Itron stock. The stock was acquired at an average cost of $69.44 per share, with a total value of $37,619,328.32.

Itron, Inc. (NASDAQ ITRI) opened at $68.20 on Monday. Itron, Inc. has a 52 week low of $57.80 and a 52 week high of $79.95. 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 $2,641.06, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 1.09 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 Zacks’ consensus estimate of $0.89 by ($0.12). Itron had a return on equity of 14.84% and a net margin of 3.42%. The company had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. During the same quarter last year, the business earned $0.77 EPS. Itron’s revenue was down 4.0% on a year-over-year basis. equities analysts forecast that Itron, Inc. will post 2.99 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake 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 acquiring an additional 38,104 shares during the period. Bank of New York Mellon Corp increased its stake in Itron by 94.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 895,681 shares of the scientific and technical instruments company’s stock worth $60,683,000 after acquiring an additional 434,500 shares during the period. State Street Corp increased its stake 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 acquiring an additional 43,230 shares during the period. Renaissance Technologies LLC increased its stake in Itron by 38.1% during 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. Finally, Neuberger Berman Group LLC increased its stake in Itron by 13.5% during 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. Hedge funds and other institutional investors own 93.54% of the company’s stock.

A number of equities analysts have recently weighed in on ITRI shares. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Monday, September 4th. 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. Argus reiterated a “buy” rating and set a $80.00 target price (up previously from $78.00) on shares of Itron in a research note on Tuesday, September 12th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of Itron in a research note on Friday, November 3rd. Finally, Canaccord Genuity lowered Itron from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $81.78.

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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.

Insider Buying and Selling by Quarter for Itron (NASDAQ:ITRI)

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