Scopia Capital Management Lp buys $215,743,751 stake in Itron (ITRI)

Itron (ITRI) : Scopia Capital Management Lp scooped up 940,900 additional shares in Itron during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,475,083 shares of Itron which is valued at $215,743,751.Itron makes up approximately 4.32% of Scopia Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Water Asset Management reduced its stake in ITRI by selling 221,800 shares or 77.74% in the most recent quarter. The Hedge Fund company now holds 63,517 shares of ITRI which is valued at $3,062,155. Itron makes up approx 2.50% of Water Asset Management’s portfolio.Lord Abbett boosted its stake in ITRI in the latest quarter, The investment management firm added 101,101 additional shares and now holds a total of 230,101 shares of Itron which is valued at $11,093,169. Itron makes up approx 0.03% of Lord Abbett’s portfolio.First Mercantile Trust Co reduced its stake in ITRI by selling 541 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 15,363 shares of ITRI which is valued at $740,650. Itron makes up approx 0.09% of First Mercantile Trust Co’s portfolio. Airain Ltd sold out all of its stake in ITRI during the most recent quarter. The investment firm sold 30,864 shares of ITRI which is valued $1,335,177.I.g. Investment Management Ltd. boosted its stake in ITRI in the latest quarter, The investment management firm added 531 additional shares and now holds a total of 28,852 shares of Itron which is valued at $1,248,138.

Itron opened for trading at $50 and hit $52.72 on the upside on Thursday, eventually ending the session at $50.95, with a gain of 6.97% or 3.32 points. The heightened volatility saw the trading volume jump to 6,63,850 shares. Company has a market cap of $1,948 M.

On the company’s financial health, Itron reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Sep 1, 2016. Analyst had a consensus of $0.44. The company had revenue of $513.02 million for the quarter, compared to analysts expectations of $477.66 million. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.39 EPS.

Itron Inc. (Itron) is a technology and service company offering metering solutions to electric natural gas and water utilities around the world. The Company provides solutions that measure manage and analyze energy and water use. The Company operates in three segments: Electricity which is the is the supplier of electricity metering solutions including standard meters and advanced and smart metering systems; Gas which is the supplier of gas metering solutions including standard meters and advanced and smart metering systems and Water which is the supplier of standard and advanced water meters and communication modules. Its applications include residential and commercial industrial markets for water and heat. Its services include licensing meter data management and analytics software managed services software-as-service (hosted software) technical support services licensing hardware technology and consulting services.

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