Perbak Capital Partners LLP Acquires New Holdings in Itron, Inc. $ITRI

Key Points

• Perbak Capital Partners LLP acquired 6,088 shares of Itron, Inc., valued at approximately $638,000, making it the 29th largest holding in its portfolio.
• Recent upgrades from analysts include a price target increase from $128.00 to $145.00 by JPMorgan Chase & Co. and a favorable consensus rating of "Moderate Buy" for Itron.
• In the most recent earnings report, Itron beat estimates with $1.62 earnings per share, while quarterly revenue slightly declined by 0.4% year-over-year.

Perbak Capital Partners LLP acquired a new stake in Itron, Inc. (NASDAQ:ITRI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,088 shares of the scientific and technical instruments company's stock, valued at approximately $638,000. Itron makes up about 0.5% of Perbak Capital Partners LLP's portfolio, making the stock its 29th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Itron in the 1st quarter valued at $45,000. CoreCap Advisors LLC lifted its position in Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after acquiring an additional 125 shares in the last quarter. Quarry LP lifted its position in Itron by 155.6% in the 1st quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock valued at $95,000 after acquiring an additional 554 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in Itron by 98.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after buying an additional 847 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Itron by 6.3% during the 4th quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock worth $233,000 after buying an additional 128 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Itron Stock Performance

ITRI traded down $0.67 on Friday, reaching $120.45. The company had a trading volume of 623,729 shares, compared to its average volume of 484,868. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $140.04. The stock has a market cap of $5.51 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.66 and a beta of 1.46. The company's fifty day moving average is $129.33 and its 200 day moving average is $116.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04.

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

Insider Buying and Selling at Itron

In related news, SVP John F. Marcolini sold 565 shares of the 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 $1,803,962.76. This represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 547 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $125.31, for a total transaction of $68,544.57. Following the completion of the transaction, the senior vice president directly owned 19,604 shares of the company's stock, valued at approximately $2,456,577.24. The trade was a 2.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,073 shares of company stock worth $1,480,880 in the last three months. Company insiders own 1.45% of the company's stock.

Itron Profile

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.