Weatherly Asset Management L. P. trimmed its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 17.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,906 shares of the scientific and technical instruments company’s stock after selling 1,260 shares during the period. Weatherly Asset Management L. P.’s holdings in Itron were worth $275,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. IMS Capital Management acquired a new position in shares of Itron during the 3rd quarter worth about $32,000. Oppenheimer Asset Management Inc. acquired a new stake in Itron in the 4th quarter valued at about $44,000. Smithfield Trust Co. lifted its stake in Itron by 2,120.0% in the 1st quarter. Smithfield Trust Co. now owns 1,443 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 1,378 shares during the last quarter. ETF Managers Group LLC lifted its stake in Itron by 15.6% in the 4th quarter. ETF Managers Group LLC now owns 1,818 shares of the scientific and technical instruments company’s stock valued at $86,000 after purchasing an additional 246 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC acquired a new stake in Itron in the 1st quarter valued at about $95,000. Institutional investors own 97.08% of the company’s stock.
Several equities research analysts recently issued reports on ITRI shares. Needham & Company LLC cut their target price on shares of Itron to $75.00 and set a “buy” rating for the company in a research note on Wednesday, January 23rd. Zacks Investment Research upgraded shares of Itron from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. BidaskClub upgraded shares of Itron from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 7th. JMP Securities cut their target price on shares of Itron from $80.00 to $72.00 and set a “market outperform” rating for the company in a research note on Thursday, February 28th. Finally, ValuEngine downgraded shares of Itron from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $71.88.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, February 27th. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.20. The firm had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $600.73 million. Itron had a negative net margin of 4.18% and a positive return on equity of 14.92%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. Equities analysts anticipate that Itron, Inc. will post 2.54 earnings per share for the current fiscal year.
In other Itron news, CEO Philip Mezey sold 22,645 shares of the stock in a transaction dated Wednesday, February 27th. The shares were 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 directly owns 87,077 shares of the company’s stock, valued at approximately $5,289,927.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Scopia Capital Management Lp sold 41,863 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $53.08, for a total transaction of $2,222,088.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 506,228 shares of company stock worth $25,624,040. 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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