Tappan Street Partners buys $7,713,600 stake in Itron (ITRI)

Itron (ITRI) : Tappan Street Partners scooped up 10,000 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 160,000 shares of Itron which is valued at $7,713,600.Itron makes up approximately 9.07% of Tappan Street Partners’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag added ITRI to its portfolio by purchasing 8,520 company shares during the most recent quarter which is valued at $410,749.Penserra Capital Management boosted its stake in ITRI in the latest quarter, The investment management firm added 74 additional shares and now holds a total of 223 shares of Itron which is valued at $9,743. Robecosam Usa added ITRI to its portfolio by purchasing 29,830 company shares during the most recent quarter which is valued at $1,290,446. Itron makes up approx 1.52% of Robecosam Usa’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in ITRI in the latest quarter, The investment management firm added 48,522 additional shares and now holds a total of 121,761 shares of Itron which is valued at $5,183,366. Itron makes up approx 0.07% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.

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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