Mirae Asset Global Investments Co. Ltd. trimmed its position in Itron, Inc. (NASDAQ:ITRI – Get Rating) by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,828 shares of the scientific and technical instruments company’s stock after selling 13,212 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.24% of Itron worth $5,786,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in ITRI. Teacher Retirement System of Texas increased its holdings in shares of Itron by 19.6% in the fourth quarter. Teacher Retirement System of Texas now owns 8,710 shares of the scientific and technical instruments company’s stock worth $597,000 after purchasing an additional 1,427 shares during the last quarter. Citigroup Inc. increased its stake in Itron by 37.5% during the fourth quarter. Citigroup Inc. now owns 57,341 shares of the scientific and technical instruments company’s stock worth $3,929,000 after acquiring an additional 15,633 shares during the last quarter. Rhumbline Advisers increased its stake in Itron by 4.0% during the fourth quarter. Rhumbline Advisers now owns 115,481 shares of the scientific and technical instruments company’s stock worth $7,913,000 after acquiring an additional 4,471 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Itron by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,670 shares of the scientific and technical instruments company’s stock worth $27,249,000 after acquiring an additional 18,286 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Itron during the fourth quarter worth approximately $6,294,000. 97.36% of the stock is owned by institutional investors.
Analyst Ratings Changes
ITRI has been the topic of several analyst reports. StockNews.com cut Itron from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Cowen reduced their price objective on Itron to $68.00 in a research note on Tuesday, August 9th. Raymond James dropped their target price on Itron from $72.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 12th. Stephens lowered Itron from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $65.00 to $55.00 in a research report on Friday, August 5th. Finally, Piper Sandler dropped their target price on Itron from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Itron presently has a consensus rating of “Hold” and an average price target of $62.13.
Insider Buying and Selling
Itron Stock Down 2.7 %
Shares of NASDAQ ITRI opened at $45.25 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.26 and a current ratio of 1.64. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -21.14 and a beta of 1.29. The stock has a 50 day moving average price of $51.02 and a 200 day moving average price of $50.00. Itron, Inc. has a 52-week low of $43.18 and a 52-week high of $81.36.
Itron (NASDAQ:ITRI – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The scientific and technical instruments company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). The firm had revenue of $431.88 million during the quarter, compared to analysts’ expectations of $488.53 million. Itron had a negative net margin of 5.15% and a positive return on equity of 4.45%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Sell-side analysts expect that Itron, Inc. will post 0.77 earnings per share for the current year.
Itron Company Profile
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.
- Get a free copy of the StockNews.com research report on Itron (ITRI)
- The Institutions Hold On To Darden Restaurants International
- What Steelcase’s Earnings Say About the Return to the Office?
- Is The Golden Age Of Homebuilding Already Over?
- These 3 Big Dividend Payers Also Boast Strong Price Growth
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.