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Scopia Capital Management trims stake in Itron

Scopia Capital Management LP shed some of its ownership in Itron Inc. after engaging in two open market transactions.

Scopia Capital owns 4,946,622 common shares, representing a 12.5% stake in Itron, according to a March 13 filing. This is down from 5,086,532 shares, or the 12.88% stake it held in the company as of Dec. 31, 2018, according to S&P Global Market Intelligence data.

The alternative asset management firm remains the top institutional owner of Itron. Black Rock Inc. and Wellington Management Group ranked second and third, respectively, in terms of ownership of outstanding Itron common shares.