First Mercantile Trust Co Lowers stake in Itron (ITRI)

Itron (ITRI) : First Mercantile Trust Co reduced its stake in Itron by 24.57% during the most recent quarter end. The investment management company now holds a total of 11,589 shares of Itron which is valued at $652,577 after selling 3,774 shares in Itron , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Itron makes up approximately 0.09% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading reduced its stake in ITRI by selling 58 shares or 33.92% in the most recent quarter. The Hedge Fund company now holds 113 shares of ITRI which is valued at $6,363.Private Asset Management Inc reduced its stake in ITRI by selling 550 shares or 0.73% in the most recent quarter. The Hedge Fund company now holds 75,255 shares of ITRI which is valued at $4,289,535. Itron makes up approx 0.72% of Private Asset Management Inc’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in ITRI by selling 6,485 shares or 41.27% in the most recent quarter. The Hedge Fund company now holds 9,229 shares of ITRI which is valued at $526,053.Eqis Capital Management reduced its stake in ITRI by selling 385 shares or 6.51% in the most recent quarter. The Hedge Fund company now holds 5,527 shares of ITRI which is valued at $315,039. Itron makes up approx 0.02% of Eqis Capital Management’s portfolio.

Itron closed down -0.41 points or -0.72% at $56.31 with 1,98,796 shares getting traded on Friday. Post opening the session at $56.7, the shares hit an intraday low of $56.09 and an intraday high of $56.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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