American International Group Inc. trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 27,712 shares of the scientific and technical instruments company’s stock after selling 242 shares during the quarter. American International Group Inc.’s holdings in Itron were worth $1,683,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. PGGM Investments lifted its holdings in shares of Itron by 37.3% during the third quarter. PGGM Investments now owns 555,489 shares of the scientific and technical instruments company’s stock worth $33,740,000 after purchasing an additional 151,000 shares during the period. Vanguard Group Inc. raised its position in Itron by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,110,648 shares of the scientific and technical instruments company’s stock worth $272,332,000 after acquiring an additional 86,433 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Itron in the second quarter worth $5,456,000. Assenagon Asset Management S.A. raised its position in Itron by 242.7% in the third quarter. Assenagon Asset Management S.A. now owns 108,379 shares of the scientific and technical instruments company’s stock worth $6,583,000 after acquiring an additional 76,757 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Itron by 11.8% in the second quarter. First Trust Advisors LP now owns 664,598 shares of the scientific and technical instruments company’s stock worth $44,030,000 after acquiring an additional 70,091 shares in the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.
ITRI has been the subject of several research analyst reports. Stephens initiated coverage on Itron in a research report on Thursday, October 15th. They issued an “overweight” rating for the company. Raymond James upgraded Itron from an “outperform” rating to a “strong-buy” rating and set a $78.00 price objective for the company in a research report on Monday, September 28th. They noted that the move was a valuation call. Wolfe Research began coverage on Itron in a research report on Tuesday, August 25th. They issued an “underperform” rating and a $56.00 price target for the company. Zacks Investment Research upgraded Itron from a “sell” rating to a “hold” rating and set a $68.00 price target for the company in a research report on Tuesday, October 6th. Finally, ValuEngine upgraded Itron from a “hold” rating to a “buy” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $75.44.
Itron stock opened at $77.08 on Friday. The stock has a market cap of $3.11 billion, a PE ratio of -47.58 and a beta of 1.11. The stock has a 50-day moving average price of $69.56 and a 200 day moving average price of $65.27. Itron, Inc. has a 52 week low of $40.48 and a 52 week high of $88.32. The company has a current ratio of 2.30, a quick ratio of 1.88 and a debt-to-equity ratio of 1.65.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, November 2nd. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.36. Itron had a positive return on equity of 9.74% and a negative net margin of 2.85%. The firm had revenue of $540.18 million for the quarter, compared to analyst estimates of $540.91 million. During the same period last year, the company earned $1.04 EPS. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. On average, equities analysts predict that Itron, Inc. will post 1.48 EPS for the current year.
Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
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