The Alambic Investment Management L.P. Decreases Stake in Itron, Inc. (ITRI)

The Alambic Investment Management L.P. Decreases Stake in Itron, Inc. (ITRI)

Alambic Investment Management L.P. decreased its stake in Itron, Inc. (NASDAQ:ITRI) by 62.3% during the third quarter, Holdings Channel reports. The institutional investor owned 7,200 shares of the company’s stock after selling 11,900 shares during the period. Alambic Investment Management L.P.’s holdings in Itron were worth $401,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. PineBridge Investments L.P. raised its stake 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 in the last quarter. CWH Capital Management Inc. bought a new stake in Itron during the second quarter valued at $202,000. Vanguard Group Inc. raised its stake in Itron by 9.0% in the second quarter. Vanguard Group Inc. now owns 3,145,447 shares of the company’s stock valued at $135,568,000 after buying an additional 260,300 shares in the last quarter. Principal Financial Group Inc. raised its stake in Itron by 1.5% in the second quarter. Principal Financial Group Inc. now owns 386,973 shares of the company’s stock valued at $16,679,000 after buying an additional 5,636 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Itron by 0.7% in the second quarter. Prudential Financial Inc. now owns 95,521 shares of the company’s stock valued at $4,116,000 after buying an additional 620 shares in the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.

Shares of Itron, Inc. (NASDAQ:ITRI) traded up 1.14% during mid-day trading on Wednesday, hitting $62.00. The company had a trading volume of 117,781 shares. Itron, Inc. has a one year low of $30.21 and a one year high of $66.10. The firm’s 50-day moving average price is $63.82 and its 200 day moving average price is $54.87. The company has a market capitalization of $2.37 billion, a P/E ratio of 82.56 and a beta of 1.32.

Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, November 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.16. Itron had a net margin of 1.45% and a return on equity of 12.89%. The firm earned $506.86 million during the quarter, compared to analyst estimates of $481.51 million. During the same quarter in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts predict that Itron, Inc. will post $2.45 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Robert W. Baird reissued an “outperform” rating and set a $62.00 price objective on shares of Itron in a research note on Saturday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective (up from $66.00) on shares of Itron in a research note on Tuesday, December 6th. Oppenheimer Holdings, Inc. set a $70.00 price objective on Itron and gave the stock a “buy” rating in a research note on Monday, December 5th. TheStreet lowered Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of Itron in a report on Monday, October 3rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $60.00.

In other Itron news, COO Thomas Deitrich sold 9,669 shares of Itron stock in a transaction on Monday, December 12th. The shares were sold at an average price of $64.25, for a total transaction of $621,233.25. Following the completion of the sale, the chief operating officer now owns 88,212 shares of the company’s stock, valued at approximately $5,667,621. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas S. Glanville sold 1,384 shares of Itron stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $65.10, for a total transaction of $90,098.40. Following the sale, the director now directly owns 14,611 shares of the company’s stock, valued at approximately $951,176.10. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.

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