SG Capital Management LLC Acquires Shares of 12,573 Itron, Inc. (ITRI)

SG Capital Management LLC acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,573 shares of the scientific and technical instruments company’s stock, valued at approximately $807,000.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in Itron during the second quarter worth approximately $271,000. Cubist Systematic Strategies LLC raised its holdings in Itron by 21.6% during the second quarter. Cubist Systematic Strategies LLC now owns 5,125 shares of the scientific and technical instruments company’s stock worth $308,000 after purchasing an additional 909 shares in the last quarter. CAPROCK Group Inc. raised its holdings in Itron by 28.7% during the second quarter. CAPROCK Group Inc. now owns 6,035 shares of the scientific and technical instruments company’s stock worth $362,000 after purchasing an additional 1,346 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Itron by 66.8% during the first quarter. Xact Kapitalforvaltning AB now owns 5,244 shares of the scientific and technical instruments company’s stock worth $375,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Ramsey Quantitative Systems raised its holdings in Itron by 43.4% during the third quarter. Ramsey Quantitative Systems now owns 6,162 shares of the scientific and technical instruments company’s stock worth $396,000 after purchasing an additional 1,866 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors.

Shares of Itron stock traded up $0.18 during trading on Friday, reaching $54.07. The company’s stock had a trading volume of 11,613 shares, compared to its average volume of 289,467. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.95 and a beta of 0.86. Itron, Inc. has a fifty-two week low of $52.88 and a fifty-two week high of $79.95. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.51 and a quick ratio of 1.18.

Itron (NASDAQ:ITRI) last announced its earnings results on Monday, August 6th. The scientific and technical instruments company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $585.89 million for the quarter, compared to analysts’ expectations of $592.12 million. Itron had a negative net margin of 5.18% and a positive return on equity of 12.86%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. Analysts anticipate that Itron, Inc. will post 2.79 earnings per share for the current year.

A number of analysts have weighed in on ITRI shares. BidaskClub cut shares of Itron from a “sell” rating to a “strong sell” rating in a report on Friday, July 27th. ValuEngine cut shares of Itron from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Cowen set a $80.00 target price on shares of Itron and gave the company a “buy” rating in a report on Monday, August 6th. Zacks Investment Research raised shares of Itron from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Finally, Guggenheim set a $73.00 target price on shares of Itron and gave the company a “buy” rating in a report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Itron presently has an average rating of “Buy” and an average price target of $80.18.

In other Itron news, insider Philip Mezey sold 16,694 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $65.04, for a total value of $1,085,777.76. Following the transaction, the insider now directly owns 93,341 shares of the company’s stock, valued at approximately $6,070,898.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.03% of the company’s stock.

About Itron

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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