Fairpointe Capital LLC Decreases Holdings in Itron, Inc. (ITRI)

Fairpointe Capital LLC lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 17.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,607 shares of the scientific and technical instruments company’s stock after selling 207,616 shares during the period. Fairpointe Capital LLC owned 2.59% of Itron worth $67,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Delta Lloyd Asset Management N.V. bought a new stake in shares of Itron during the second quarter valued at approximately $4,743,000. Credit Suisse AG raised its position in shares of Itron by 25.0% during the first quarter. Credit Suisse AG now owns 106,811 shares of the scientific and technical instruments company’s stock valued at $6,483,000 after buying an additional 21,368 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Itron during the second quarter valued at approximately $906,000. Bank of New York Mellon Corp raised its position in shares of Itron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 461,181 shares of the scientific and technical instruments company’s stock valued at $27,995,000 after buying an additional 18,598 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in Itron by 5.9% in the first quarter. HighTower Advisors LLC now owns 3,845 shares of the scientific and technical instruments company’s stock worth $234,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 93.66% of the company’s stock.

Shares of Itron, Inc. (NASDAQ ITRI) traded up 0.32% during midday trading on Wednesday, reaching $79.40. The company had a trading volume of 61,819 shares. The company’s 50 day moving average price is $75.19 and its 200 day moving average price is $69.62. The stock has a market capitalization of $3.07 billion, a PE ratio of 98.27 and a beta of 1.10. Itron, Inc. has a 52-week low of $51.55 and a 52-week high of $79.85.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $503.10 million for the quarter, compared to analysts’ expectations of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Equities research analysts expect that Itron, Inc. will post $3.07 earnings per share for the current year.

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Several equities research analysts recently weighed in on ITRI shares. Zacks Investment Research upgraded shares of Itron from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Canaccord Genuity reaffirmed a “hold” rating and set a $78.00 price objective on shares of Itron in a research note on Friday, October 6th. JMP Securities set a $88.00 price objective on shares of Itron and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, BidaskClub lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $81.78.

Itron Company Profile

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.

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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