AMI Asset Management Corp Has $653,000 Stock Holdings in Itron, Inc. $ITRI

Key Points

• AMI Asset Management Corp reduced its stake in Itron, Inc. by 47% during Q2, now holding shares worth $653,000 after selling 4,391 shares.
• Itron's recent quarterly earnings reported an EPS of $1.62, exceeding analysts' expectations by $0.29, despite a slight revenue decline of 0.4% year-over-year.
• JPMorgan Chase upgraded Itron's rating from "neutral" to "overweight," raising the price target from $128 to $145, contributing to a positive outlook among equity analysts.

AMI Asset Management Corp trimmed its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 47.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,960 shares of the scientific and technical instruments company's stock after selling 4,391 shares during the period. AMI Asset Management Corp's holdings in Itron were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of Itron by 0.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company's stock worth $1,759,000 after acquiring an additional 121 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Itron by 3.7% during the 1st quarter. Evergreen Capital Management LLC now owns 3,586 shares of the scientific and technical instruments company's stock worth $376,000 after acquiring an additional 127 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Itron by 2.0% during the 1st quarter. HighTower Advisors LLC now owns 7,501 shares of the scientific and technical instruments company's stock worth $786,000 after acquiring an additional 146 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Itron by 7.3% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,345 shares of the scientific and technical instruments company's stock worth $246,000 after acquiring an additional 160 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of Itron by 6.7% during the 1st quarter. Merit Financial Group LLC now owns 2,962 shares of the scientific and technical instruments company's stock worth $310,000 after acquiring an additional 187 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Itron news, SVP John F. Marcolini sold 565 shares of Itron stock in a transaction on Monday, August 25th. The shares were sold at an average price of $125.31, for a total transaction of $70,800.15. Following the completion of the transaction, the senior vice president directly owned 14,396 shares of the company's stock, valued at $1,803,962.76. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Justin K. Patrick sold 388 shares of Itron stock in a transaction on Monday, August 25th. The stock was sold at an average price of $125.31, for a total value of $48,620.28. Following the sale, the senior vice president directly owned 20,761 shares of the company's stock, valued at $2,601,560.91. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,037 shares of company stock valued at $380,566. 1.45% of the stock is owned by company insiders.

Itron Trading Down 1.7%

ITRI stock opened at $122.42 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.04 and a quick ratio of 1.75. The company has a fifty day moving average price of $124.45 and a two-hundred day moving average price of $118.89. Itron, Inc. has a one year low of $90.11 and a one year high of $140.04. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 0.68 and a beta of 1.49.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 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 during the quarter, compared to analysts' expectations of $610.36 million. During the same period in the previous year, the business posted $1.21 earnings per share. The company'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. Equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ITRI shares. JPMorgan Chase & Co. raised shares of Itron from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $128.00 to $145.00 in a research note on Thursday, July 31st. Stephens set a $130.00 target price on shares of Itron in a research note on Monday, August 4th. Guggenheim reissued a "buy" rating and issued a $155.00 target price (up from $133.00) on shares of Itron in a research note on Monday, July 14th. Johnson Rice cut shares of Itron from a "buy" rating to an "accumulate" rating in a research note on Friday, August 1st. Finally, TD Cowen raised their target price on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.10.

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.

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