Itron, Inc. (ITRI) Stake Lowered by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in Itron, Inc. (NASDAQ:ITRI) by 7.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 60,000 shares of the scientific and technical instruments company’s stock after selling 5,000 shares during the quarter. Gabelli Funds LLC’s holdings in Itron were worth $2,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund increased its position in Itron by 4.1% during the 1st quarter. Texas Permanent School Fund now owns 22,817 shares of the scientific and technical instruments company’s stock worth $1,064,000 after buying an additional 893 shares during the period. Comerica Bank increased its position in Itron by 2.2% during the 1st quarter. Comerica Bank now owns 33,251 shares of the scientific and technical instruments company’s stock worth $1,586,000 after buying an additional 704 shares during the period. Rhumbline Advisers increased its position in shares of Itron by 0.7% in the first quarter. Rhumbline Advisers now owns 95,354 shares of the scientific and technical instruments company’s stock worth $4,448,000 after purchasing an additional 665 shares during the period. Alps Advisors Inc. increased its position in shares of Itron by 68.2% in the first quarter. Alps Advisors Inc. now owns 27,701 shares of the scientific and technical instruments company’s stock worth $1,292,000 after purchasing an additional 11,234 shares during the period. Finally, Menta Capital LLC increased its position in shares of Itron by 132.4% in the first quarter. Menta Capital LLC now owns 11,760 shares of the scientific and technical instruments company’s stock worth $549,000 after purchasing an additional 6,700 shares during the period. 97.81% of the stock is owned by institutional investors.

Shares of NASDAQ ITRI opened at $57.01 on Thursday. Itron, Inc. has a 52 week low of $44.35 and a 52 week high of $66.95. The company has a current ratio of 1.40, a quick ratio of 1.07 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $2.24 billion, a P/E ratio of 21.51, a P/E/G ratio of 0.86 and a beta of 1.37.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Monday, May 6th. The scientific and technical instruments company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.27. Itron had a return on equity of 17.97% and a net margin of 1.87%. The firm had revenue of $614.58 million for the quarter, compared to analyst estimates of $591.88 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Itron, Inc. will post 2.66 EPS for the current year.

A number of brokerages recently commented on ITRI. ValuEngine upgraded Itron from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. BidaskClub upgraded Itron from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded Itron from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Needham & Company LLC decreased their price target on Itron to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, January 23rd. Finally, Oppenheimer raised their price target on Itron from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Itron has a consensus rating of “Buy” and an average target price of $70.22.

In related news, SVP Michel Cadieux sold 3,350 shares of Itron 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 $203,512.50. Following the transaction, the senior vice president now directly owns 41,479 shares of the company’s stock, valued at $2,519,849.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Philip Mezey sold 31,205 shares of Itron stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $59.07, for a total value of $1,843,279.35. Following the completion of the transaction, the insider now directly owns 109,185 shares in the company, valued at $6,449,557.95. The disclosure for this sale can be found here. Insiders have sold 673,678 shares of company stock worth $34,787,733 over the last three months. Insiders own 2.35% of the company’s stock.

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Itron Company Profile

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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