Credit Suisse AG boosted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 25.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,811 shares of the scientific and technical instruments company’s stock after buying an additional 21,368 shares during the period. Credit Suisse AG owned about 0.28% of Itron worth $6,483,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of Itron by 56.2% in the first quarter. LS Investment Advisors LLC now owns 1,892 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 681 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 36 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Itron by 21.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,492 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 444 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Itron during the first quarter valued at about $175,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Itron by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 3,680 shares of the scientific and technical instruments company’s stock valued at $223,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 94.53% of the company’s stock.
Itron, Inc. (NASDAQ ITRI) opened at 75.50 on Thursday. Itron, Inc. has a 12 month low of $40.53 and a 12 month high of $75.50. The stock has a 50 day moving average price of $69.32 and a 200 day moving average price of $64.42. The stock has a market capitalization of $2.92 billion, a PE ratio of 78.48 and a beta of 1.08.
Itron (NASDAQ:ITRI) last announced its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. Itron had a return on equity of 15.51% and a net margin of 1.88%. The company had revenue of $477.59 million for the quarter, compared to analysts’ expectations of $454.20 million. On average, equities research analysts forecast that Itron, Inc. will post $3.02 earnings per share for the current fiscal year.
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Several brokerages have issued reports on ITRI. Zacks Investment Research lowered Itron from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Robert W. Baird restated an “outperform” rating and issued a $73.00 target price on shares of Itron in a research note on Thursday, July 13th. BidaskClub upgraded Itron from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. JMP Securities set a $88.00 target price on Itron and gave the company a “buy” rating in a research note on Tuesday. Finally, Canaccord Genuity restated a “buy” rating and issued a $78.00 target price on shares of Itron in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.25.
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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