State Board of Administration of Florida Retirement System decreased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 27.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,426 shares of the company’s stock after selling 8,352 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Itron were worth $1,409,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. MSI Financial Services Inc raised its stake in Itron by 21,622.2% in the third quarter. MSI Financial Services Inc now owns 1,955 shares of the company’s stock valued at $109,000 after buying an additional 1,946 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Itron during the third quarter valued at $134,000. CIBC Asset Management Inc purchased a new stake in Itron during the third quarter valued at $258,000. Suntrust Banks Inc. purchased a new stake in Itron during the third quarter valued at $353,000. Finally, Lebenthal Lisanti Capital Growth LLC purchased a new stake in Itron during the third quarter valued at $440,000. Institutional investors own 93.02% of the company’s stock.
Itron, Inc. (NASDAQ:ITRI) opened at 64.00 on Friday. Itron, Inc. has a 52 week low of $39.01 and a 52 week high of $66.45. The stock has a market cap of $2.45 billion, a PE ratio of 78.05 and a beta of 1.29. The firm’s 50-day moving average price is $62.13 and its 200-day moving average price is $59.93.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.10. Itron had a return on equity of 12.89% and a net margin of 1.45%. The firm had revenue of $495.71 million for the quarter, compared to the consensus estimate of $481.38 million. During the same period in the prior year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that Itron, Inc. will post $2.97 earnings per share for the current fiscal year.
Several research firms recently weighed in on ITRI. Oppenheimer Holdings Inc. set a $70.00 price target on Itron and gave the company a “buy” rating in a research report on Wednesday, March 1st. JMP Securities began coverage on Itron in a research report on Thursday, March 9th. They set an “outperform” rating and a $75.00 price target on the stock. Robert W. Baird lifted their price target on Itron to $73.00 and gave the company a “buy” rating in a research report on Friday, December 9th. Needham & Company LLC restated a “buy” rating and set a $70.00 price target (up from $66.00) on shares of Itron in a research report on Tuesday, December 6th. Finally, TheStreet upgraded Itron from a “c+” rating to a “b+” rating in a research report on Tuesday, February 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $66.43.
In other news, VP Shannon M. Votava sold 957 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $63.83, for a total value of $61,085.31. Following the sale, the vice president now directly owns 11,972 shares in the company, valued at $764,172.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Philip Mezey sold 7,980 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $64.16, for a total value of $511,996.80. Following the completion of the sale, the insider now owns 97,045 shares in the company, valued at $6,226,407.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,932 shares of company stock worth $770,003. Company insiders own 2.10% of the company’s stock.
Itron Company Profile
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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