Fred Alger Management LLC Buys Shares of 45,738 Itron, Inc. $ITRI

Key Points

• Fred Alger Management LLC acquired 45,738 shares of Itron, Inc. valued at approximately $4.79 million, representing 0.10% ownership of the company as of the latest reporting period.
• Several brokerages have upgraded Itron's rating, with notable increases in target prices from firms like Guggenheim and JPMorgan, indicating a general consensus among analysts for a "Moderate Buy" rating.
• Recent insider transactions included sales by two senior vice presidents, resulting in a total insider sale of 3,037 shares worth $380,566 over the last ninety days as insiders currently hold 1.51% of the company's stock.

Fred Alger Management LLC bought a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 45,738 shares of the scientific and technical instruments company's stock, valued at approximately $4,792,000. Fred Alger Management LLC owned about 0.10% of Itron as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITRI. Wayfinding Financial LLC bought a new position in Itron in the first quarter worth about $45,000. CoreCap Advisors LLC raised its holdings in shares of Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after buying an additional 125 shares during the last quarter. Quarry LP raised its holdings in shares of Itron by 155.6% during the first quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock valued at $95,000 after buying an additional 554 shares during the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Itron by 98.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock valued at $179,000 after buying an additional 847 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Itron by 6.3% during the fourth quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock valued at $233,000 after buying an additional 128 shares during the last quarter. Institutional investors own 96.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ITRI shares. Johnson Rice cut Itron from a "buy" rating to an "accumulate" rating in a report on Friday, August 1st. Wall Street Zen raised Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Stephens set a $130.00 price target on Itron in a report on Monday, August 4th. Guggenheim reaffirmed a "buy" rating and set a $155.00 price target (up previously from $133.00) on shares of Itron in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $128.00 to $145.00 in a research note on Thursday, July 31st. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.55.

Insider Transactions at Itron

In related news, SVP John F. Marcolini sold 565 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $70,800.15. Following the completion of the transaction, the senior vice president owned 14,396 shares of the company's stock, valued at approximately $1,803,962.76. This trade represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 351 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $43,983.81. Following the completion of the transaction, the senior vice president directly owned 19,117 shares of the company's stock, valued at $2,395,551.27. This represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,037 shares of company stock valued at $380,566 in the last 90 days. 1.51% of the stock is owned by corporate insiders.

Itron Price Performance

Itron stock traded up $0.28 during mid-day trading on Monday, hitting $119.82. The company's stock had a trading volume of 65,629 shares, compared to its average volume of 592,988. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $5.48 billion, a P/E ratio of 20.48, a P/E/G ratio of 0.66 and a beta of 1.46. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $140.04. The stock's fifty day moving average price is $127.88 and its two-hundred day moving average price is $117.55.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.29. The firm had revenue of $606.76 million for the quarter, compared to analyst estimates of $610.36 million. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. Research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.