Itron, Inc. (ITRI) Major Shareholder Sells $2,293,990.08 in Stock

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp sold 48,684 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $47.12, for a total value of $2,293,990.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large 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 Wednesday, April 17th, Scopia Capital Management Lp sold 22,154 shares of Itron stock. The stock was sold at an average price of $50.30, for a total value of $1,114,346.20.
  • On Monday, April 15th, Scopia Capital Management Lp sold 35,245 shares of Itron stock. The stock was sold at an average price of $48.59, for a total value of $1,712,554.55.
  • On Friday, April 12th, Scopia Capital Management Lp sold 26,110 shares of Itron stock. The stock was sold at an average price of $48.35, for a total value of $1,262,418.50.
  • On Friday, April 5th, Scopia Capital Management Lp sold 4,340 shares of Itron stock. The stock was sold at an average price of $48.03, for a total value of $208,450.20.
  • On Monday, April 8th, Scopia Capital Management Lp sold 4,675 shares of Itron stock. The stock was sold at an average price of $48.03, for a total value of $224,540.25.
  • On Thursday, March 28th, Scopia Capital Management Lp sold 11,784 shares of Itron stock. The stock was sold at an average price of $46.22, for a total value of $544,656.48.
  • On Friday, March 22nd, Scopia Capital Management Lp sold 58,046 shares of Itron stock. The stock was sold at an average price of $49.97, for a total value of $2,900,558.62.
  • On Wednesday, March 20th, Scopia Capital Management Lp sold 21,646 shares of Itron stock. The stock was sold at an average price of $50.39, for a total value of $1,090,741.94.
  • On Monday, March 18th, Scopia Capital Management Lp sold 44,193 shares of Itron stock. The stock was sold at an average price of $49.56, for a total value of $2,190,205.08.
  • On Thursday, March 14th, Scopia Capital Management Lp sold 26,866 shares of Itron stock. The stock was sold at an average price of $49.99, for a total value of $1,343,031.34.

Shares of ITRI stock traded down $0.16 on Friday, hitting $50.12. The stock had a trading volume of 220,546 shares, compared to its average volume of 378,580. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $2.00 billion, a PE ratio of 18.91, a P/E/G ratio of 0.79 and a beta of 1.32. Itron, Inc. has a 1 year low of $44.35 and a 1 year high of $71.85.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, February 27th. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.20. Itron had a positive return on equity of 14.92% and a negative net margin of 4.18%. The company had revenue of $587.00 million for the quarter, compared to the consensus estimate of $600.73 million. During the same quarter in the prior year, the business earned $1.01 EPS. Itron’s revenue was up 6.6% on a year-over-year basis. Research analysts predict that Itron, Inc. will post 2.54 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on ITRI shares. Needham & Company LLC dropped their price target on Itron to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, January 23rd. Zacks Investment Research raised Itron from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. BidaskClub raised Itron from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 7th. JMP Securities dropped their price objective on Itron from $80.00 to $72.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 28th. Finally, ValuEngine downgraded Itron from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $72.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its stake in shares of Itron by 10.2% during the 3rd quarter. FMR LLC now owns 247,629 shares of the scientific and technical instruments company’s stock worth $15,897,000 after buying an additional 22,823 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Itron by 9.5% during the 4th quarter. Geode Capital Management LLC now owns 390,825 shares of the scientific and technical instruments company’s stock worth $18,482,000 after buying an additional 33,782 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Itron during the 3rd quarter worth approximately $348,000. Vanguard Group Inc. raised its stake in shares of Itron by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,407,421 shares of the scientific and technical instruments company’s stock worth $218,756,000 after buying an additional 73,730 shares in the last quarter. Finally, Putnam FL Investment Management Co. purchased a new position in shares of Itron during the 3rd quarter worth approximately $222,000. Institutional investors own 97.08% of the company’s stock.

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About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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