Mason Street Advisors LLC acquired a new stake in Itron Inc. (NASDAQ:ITRI) during the second quarter, Holdings Channel reports. The firm acquired 7,409 shares of the company’s stock, valued at approximately $319,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Itron by 2,352.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,090 shares of the company’s stock valued at $133,000 after buying an additional 2,964 shares during the period. CWH Capital Management Inc. acquired a new position in Itron during the second quarter valued at $202,000. PineBridge Investments L.P. raised its position in Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock valued at $207,000 after buying an additional 175 shares during the period. Teacher Retirement System of Texas raised its position in Itron by 8.1% in the second quarter. Teacher Retirement System of Texas now owns 5,048 shares of the company’s stock valued at $218,000 after buying an additional 377 shares during the period. Finally, AQR Capital Management LLC acquired a new position in Itron during the second quarter valued at $219,000. 96.92% of the stock is owned by hedge funds and other institutional investors.
Itron Inc. (NASDAQ:ITRI) opened at 56.31 on Friday. The firm has a market cap of $2.15 billion, a P/E ratio of 42.09 and a beta of 1.44. The firm’s 50-day moving average price is $52.99 and its 200-day moving average price is $45.30. Itron Inc. has a 1-year low of $29.02 and a 1-year high of $57.25.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.22. Itron had a net margin of 2.62% and a return on equity of 10.94%. The company earned $513.02 million during the quarter. During the same period in the previous year, the company earned ($0.39) earnings per share. Itron’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Itron Inc. will post $2.37 earnings per share for the current fiscal year.
Several brokerages have recently commented on ITRI. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of Itron in a research note on Monday, October 3rd. Needham & Company LLC raised their target price on Itron from $46.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, September 2nd. TheStreet upgraded Itron from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Finally, Robert W. Baird set a $56.00 target price on Itron and gave the company a “buy” rating in a research note on Sunday, September 4th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.71.
In other Itron news, Director Thomas S. Glanville sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $53.15, for a total transaction of $212,600.00. Following the completion of the transaction, the director now owns 20,783 shares of the company’s stock, valued at $1,104,616.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Scopia Capital Management Lp bought 83,303 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were acquired at an average cost of $53.84 per share, with a total value of $4,485,033.52. The disclosure for this purchase can be found here. Company insiders own 2.10% of the company’s stock.
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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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