Northern Trust Corp Sells 1,564 Shares of Itron, Inc. (NASDAQ:ITRI)

Northern Trust Corp lessened its stake in Itron, Inc. (NASDAQ:ITRI) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 472,173 shares of the scientific and technical instruments company’s stock after selling 1,564 shares during the quarter. Northern Trust Corp owned about 1.20% of Itron worth $22,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IMS Capital Management bought a new position in shares of Itron during the third quarter worth about $32,000. Oppenheimer Asset Management Inc. bought a new position in shares of Itron during the fourth quarter worth about $44,000. ETF Managers Group LLC grew its holdings in shares of Itron by 15.6% during the fourth quarter. ETF Managers Group LLC now owns 1,818 shares of the scientific and technical instruments company’s stock worth $86,000 after buying an additional 246 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Itron during the third quarter worth about $329,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Itron by 780.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,285 shares of the scientific and technical instruments company’s stock worth $249,000 after buying an additional 4,685 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

In other news, major shareholder Scopia Capital Management Lp sold 11,784 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $46.22, for a total transaction of $544,656.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Philip Mezey sold 22,645 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $60.75, for a total value of $1,375,683.75. Following the transaction, the chief executive officer now owns 87,077 shares in the company, valued at approximately $5,289,927.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 405,129 shares of company stock worth $20,359,207. 2.35% of the stock is owned by corporate insiders.

Shares of ITRI traded up $0.33 during mid-day trading on Wednesday, reaching $51.73. The company’s stock had a trading volume of 165,335 shares, compared to its average volume of 279,588. Itron, Inc. has a 1-year low of $44.35 and a 1-year high of $69.35. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 0.79 and a beta of 1.32. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 1.35.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Wednesday, February 27th. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.20. The company had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $600.73 million. Itron had a positive return on equity of 14.92% and a negative net margin of 4.18%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $1.01 earnings per share. As a group, analysts expect that Itron, Inc. will post 2.54 earnings per share for the current year.

Several brokerages recently commented on ITRI. JMP Securities reduced their price target on Itron from $80.00 to $72.00 and set a “market outperform” rating for the company in a research report on Thursday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Itron in a research report on Thursday, February 28th. BidaskClub raised Itron from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. Zacks Investment Research raised Itron from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Cowen set a $67.00 price target on Itron and gave the company a “buy” rating in a research report on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Itron presently has an average rating of “Hold” and a consensus target price of $72.00.

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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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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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