Versor Investments LP Takes Position in Itron, Inc. $ITRI

Key Points

• Versor Investments LP acquired 9,435 shares of Itron, Inc. for about $988,000, marking a new position for the company in the first quarter.
• Several other major investors, including Raiffeisen Bank and Wellington Management Group, have similarly increased their stakes in Itron during the fourth quarter.
• Itron's stock has shown strong analyst ratings with 12 buy ratings and an updated price target range from $130 to $155 from various equity research firms.

Versor Investments LP bought a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,435 shares of the scientific and technical instruments company's stock, valued at approximately $988,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Algert Global LLC raised its holdings in shares of Itron by 12.4% during the first quarter. Algert Global LLC now owns 203,021 shares of the scientific and technical instruments company's stock worth $21,268,000 after purchasing an additional 22,436 shares during the period. Corient IA LLC acquired a new stake in shares of Itron during the first quarter worth $314,000. Aberdeen Group plc acquired a new stake in shares of Itron during the first quarter worth $698,000. Fox Run Management L.L.C. acquired a new stake in shares of Itron during the first quarter worth $1,820,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Itron by 808.7% during the first quarter. Russell Investments Group Ltd. now owns 30,922 shares of the scientific and technical instruments company's stock worth $3,239,000 after purchasing an additional 27,519 shares during the period. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Itron

In other news, SVP John F. Marcolini sold 3,783 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $116.73, for a total transaction of $441,589.59. Following the completion of the transaction, the senior vice president owned 21,865 shares in the company, valued at approximately $2,552,301.45. This trade represents a 14.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Joan S. Hooper sold 938 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $107,823.10. Following the transaction, the chief financial officer owned 89,364 shares of the company's stock, valued at approximately $10,272,391.80. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,755 shares of company stock worth $1,879,397 over the last ninety days. Insiders own 1.45% of the company's stock.

Itron Price Performance

ITRI traded up $3.42 on Friday, reaching $126.83. The company had a trading volume of 579,722 shares, compared to its average volume of 588,913. The company has a fifty day moving average of $130.47 and a 200-day moving average of $115.00. The company has a market capitalization of $5.80 billion, a P/E ratio of 21.68, a PEG ratio of 0.68 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.48. Itron, Inc. has a one year low of $90.11 and a one year high of $140.04.

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, beating analysts' consensus estimates of $1.33 by $0.29. The firm had revenue of $606.76 million during 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%. Itron's revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. 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, equities research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ITRI. TD Cowen increased their target price on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Stephens set a $130.00 price objective on shares of Itron in a report on Monday, August 4th. JPMorgan Chase & Co. raised shares of Itron from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $128.00 to $145.00 in a report on Thursday, July 31st. Guggenheim reaffirmed a "buy" rating and issued a $155.00 price objective (up previously from $133.00) on shares of Itron in a report on Monday, July 14th. Finally, Wall Street Zen raised shares of Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $136.25.

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.