Itron (NASDAQ:ITRI) Issues Quarterly Earnings Results

Itron (NASDAQ:ITRI) posted its quarterly earnings results on Tuesday. The scientific and technical instruments company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.27, Briefing.com reports. Itron had a net margin of 10.69% and a return on equity of 17.82%. During the same period in the previous year, the firm posted $1.35 EPS. Itron’s revenue was down 6.7% on a year-over-year basis.

Itron Stock Down 6.7%

Shares of NASDAQ ITRI opened at $89.36 on Tuesday. The firm has a fifty day simple moving average of $97.61 and a two-hundred day simple moving average of $110.66. Itron has a 12 month low of $88.57 and a 12 month high of $142.00. The company has a current ratio of 2.17, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $4.09 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 0.51 and a beta of 1.48.

Insider Buying and Selling

In other news, SVP Christopher E. Ware sold 343 shares of Itron stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $33,102.93. Following the completion of the transaction, the senior vice president directly owned 18,774 shares in the company, valued at approximately $1,811,878.74. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 948 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $96.51, for a total value of $91,491.48. Following the completion of the sale, the chief financial officer directly owned 87,446 shares in the company, valued at approximately $8,439,413.46. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,113 shares of company stock valued at $301,678 over the last quarter. 1.51% of the stock is currently owned by insiders.

Institutional Trading of Itron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Soros Fund Management LLC purchased a new stake in Itron during the fourth quarter valued at approximately $34,843,000. Merewether Investment Management LP lifted its position in Itron by 1,552.7% in the second quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company’s stock worth $39,593,000 after buying an additional 282,587 shares during the last quarter. Schroder Investment Management Group increased its position in Itron by 65.2% during the fourth quarter. Schroder Investment Management Group now owns 588,872 shares of the scientific and technical instruments company’s stock valued at $54,683,000 after acquiring an additional 232,341 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Itron in the fourth quarter valued at $19,133,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Itron by 18.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,271,042 shares of the scientific and technical instruments company’s stock worth $118,034,000 after purchasing an additional 194,768 shares during the period. Institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ITRI. Oppenheimer cut their price objective on shares of Itron from $145.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, January 27th. Robert W. Baird restated a “neutral” rating and issued a $118.00 target price (down from $137.00) on shares of Itron in a research note on Friday, October 31st. Weiss Ratings downgraded Itron from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Zacks Research cut shares of Itron from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen cut Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $136.10.

Itron Company Profile

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.