Scopia Capital Management Lp Purchases 13,480 Shares of Itron, Inc. (ITRI) Stock

Itron, Inc. (NASDAQ:ITRI) major shareholder Scopia Capital Management Lp acquired 13,480 shares of Itron stock in a transaction on Tuesday, December 12th. The stock was purchased at an average cost of $69.32 per share, with a total value of $934,433.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Scopia Capital Management Lp also recently made the following trade(s):

  • On Wednesday, December 6th, Scopia Capital Management Lp acquired 75,193 shares of Itron stock. The stock was purchased 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 purchased at an average cost of $69.44 per share, with a total value of $37,619,328.32.

Itron, Inc. (ITRI) opened at $70.30 on Friday. Itron, Inc. has a 52-week low of $57.80 and a 52-week high of $79.95. The firm has a market cap of $2,749.49, a P/E ratio of 26.01, a PEG ratio of 1.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67.

Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.12). Itron had a net margin of 3.42% and a return on equity of 14.84%. The company had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. sell-side analysts anticipate that Itron, Inc. will post 2.99 earnings per share for the current fiscal year.

ITRI has been the subject of a number of recent analyst reports. Argus reaffirmed a “buy” rating and issued a $80.00 price objective (up from $78.00) on shares of Itron in a research report on Tuesday, September 12th. Zacks Investment Research raised shares of Itron from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Monday, September 11th. JMP Securities set a $102.00 price objective on shares of Itron and gave the stock a “buy” rating in a research report on Thursday, October 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Itron in a research report on Friday, November 3rd. Finally, BidaskClub raised shares of Itron from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Itron currently has an average rating of “Hold” and an average target price of $81.78.

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Itron by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after acquiring an additional 31 shares during the period. Pacad Investment Ltd. grew its position in shares of Itron by 21.4% during the 2nd quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 300 shares during the period. Macquarie Group Ltd. bought a new position in shares of Itron during the 3rd quarter valued at approximately $152,000. Riverhead Capital Management LLC grew its position in shares of Itron by 74.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 897 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Itron during the 3rd quarter valued at approximately $218,000. 93.74% of the stock is owned by hedge funds and other institutional investors.

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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.

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