6,665 Shares in Itron, Inc. $ITRI Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc purchased a new stake in Itron, Inc., acquiring 6,665 shares valued at approximately $698,000 in the first quarter of 2023.
• Insider selling has occurred recently, with SVP Justin K. Patrick selling 9,036 shares for over $1.1 million, representing a significant decrease in ownership.
• Research analysts have issued mixed ratings on Itron, with a consensus target price of $136.25, reflecting varying opinions on the stock's future performance.

Aberdeen Group plc acquired a new stake in shares of 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. The institutional investor acquired 6,665 shares of the scientific and technical instruments company's stock, valued at approximately $698,000.

Other hedge funds have also made changes to their positions in the company. GeoWealth Management LLC increased its holdings in shares of Itron by 4,580.0% during the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after acquiring an additional 229 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Itron during the 1st quarter valued at about $45,000. CoreCap Advisors LLC increased its holdings in shares of Itron by 25.5% during 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 during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of 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 valued at $179,000 after acquiring an additional 847 shares during the last quarter. Finally, Hancock Whitney Corp acquired a new position in shares of Itron during the 4th quarter valued at about $220,000. Institutional investors and hedge funds own 96.19% of the company's stock.

Itron Price Performance

ITRI traded up $0.75 during trading on Tuesday, hitting $124.80. The company's stock had a trading volume of 128,566 shares, compared to its average volume of 585,360. The firm's 50 day moving average price is $130.55 and its two-hundred day moving average price is $115.40. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $140.04. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.29. Itron had a return on equity of 19.69% and a net margin of 11.05%.The firm had revenue of $606.76 million during the quarter, compared to the consensus estimate of $610.36 million. During the same quarter in the previous year, the company posted $1.21 EPS. The business's revenue for the quarter 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. Sell-side analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In other news, SVP Justin K. Patrick sold 9,036 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the completion of the sale, the senior vice president owned 21,149 shares in the company, valued at $2,575,313.73. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John F. Marcolini sold 3,783 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total value of $441,589.59. Following the sale, the senior vice president owned 21,865 shares of the company's stock, valued at approximately $2,552,301.45. The trade was a 14.75% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ITRI. TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Stephens set a $130.00 target price on Itron in a report on Monday, August 4th. Johnson Rice lowered 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. Finally, JPMorgan Chase & Co. raised Itron from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $128.00 to $145.00 in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

Itron Company 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.