Renaissance Technologies LLC increased its holdings in Itron, Inc. (NASDAQ:ITRI) by 27.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,025,961 shares of the scientific and technical instruments company’s stock after acquiring an additional 220,700 shares during the period. Renaissance Technologies LLC owned about 2.65% of Itron worth $69,971,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of ITRI. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Itron during the 4th quarter valued at about $12,535,000. AXA boosted its stake in Itron by 46.7% during the fourth quarter. AXA now owns 145,100 shares of the scientific and technical instruments company’s stock worth $9,896,000 after acquiring an additional 46,200 shares in the last quarter. Delpha Capital Management LLC bought a new stake in Itron during the fourth quarter worth about $134,000. Bogle Investment Management L P DE boosted its stake in Itron by 8.8% during the fourth quarter. Bogle Investment Management L P DE now owns 18,311 shares of the scientific and technical instruments company’s stock worth $1,248,000 after acquiring an additional 1,474 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in Itron during the fourth quarter worth about $893,000. Institutional investors own 95.25% of the company’s stock.
In other news, Director Thomas S. Glanville sold 2,000 shares of Itron stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $74.02, for a total transaction of $148,040.00. Following the completion of the transaction, the director now directly owns 13,390 shares of the company’s stock, valued at approximately $991,127.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Shannon M. Votava sold 6,661 shares of Itron stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $71.58, for a total transaction of $476,794.38. Following the transaction, the vice president now directly owns 16,459 shares of the company’s stock, valued at $1,178,135.22. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 117,675 shares of company stock valued at $8,071,472 and have sold 16,708 shares valued at $1,187,652. Company insiders own 2.03% of the company’s stock.
Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. Itron had a net margin of 2.84% and a return on equity of 15.84%. The company had revenue of $550.78 million during the quarter, compared to analysts’ expectations of $532.61 million. During the same period last year, the business earned $0.68 EPS. Itron’s revenue for the quarter was up 11.1% on a year-over-year basis. sell-side analysts predict that Itron, Inc. will post 3.05 earnings per share for the current fiscal year.
A number of analysts have commented on ITRI shares. Argus cut shares of Itron from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. BidaskClub upgraded shares of Itron from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Canaccord Genuity restated a “hold” rating and set a $78.00 target price on shares of Itron in a research report on Wednesday, December 27th. UBS initiated coverage on shares of Itron in a research report on Tuesday, January 2nd. They set a “strong-buy” rating and a $84.00 target price for the company. Finally, Raymond James Financial assumed coverage on shares of Itron in a research note on Tuesday, January 2nd. They set a “strong-buy” rating and a $84.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $84.18.
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Itron, Inc is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. 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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