AQR Capital Management LLC Has $10.30 Million Stake in Itron, Inc. $ITRI

Key Points

• AQR Capital Management LLC has reduced its stake in Itron, Inc. by 35.7%, selling 54,473 shares, and now owns approximately 0.22% of the company, valued at $10.3 million.
• A number of hedge funds have recently adjusted their positions in Itron, with Quarry LP increasing its stake by 155.6% in the first quarter, now holding shares worth $95,000.
• Itron reported earnings per share (EPS) of $1.62 for the last quarter, exceeding expectations, but its revenue decreased 0.4% year-over-year, leading to a cautionary guidance for FY 2025.

AQR Capital Management LLC lessened its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,316 shares of the scientific and technical instruments company's stock after selling 54,473 shares during the period. AQR Capital Management LLC owned about 0.22% of Itron worth $10,300,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Itron during the 1st quarter worth about $45,000. CoreCap Advisors LLC grew its holdings in shares of 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 grew its holdings in shares of 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. grew its holdings in shares of Itron by 98.0% in 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 in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Itron by 6.3% in the 4th quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock valued at $233,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Itron Stock Performance

Itron stock traded down $0.96 during midday trading on Friday, reaching $119.54. 564,703 shares of the company's stock were exchanged, compared to its average volume of 578,965. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $140.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 0.66 and a beta of 1.46. The stock's 50-day simple moving average is $127.88 and its 200 day simple moving average is $117.47.

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, topping the consensus estimate of $1.33 by $0.29. The firm had revenue of $606.76 million during the quarter, compared to the consensus estimate of $610.36 million. Itron had a net margin of 11.05% and a return on equity of 19.69%. The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same period last 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. On average, analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities 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. Stephens set a $130.00 price objective on Itron in a report on Monday, August 4th. TD Cowen raised 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. Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Roth Capital raised their price objective on Itron from $130.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Ten 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, the stock has an average rating of "Moderate Buy" and an average price target of $136.55.

Insider Activity

In other Itron news, SVP Justin K. Patrick sold 388 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 transaction of $48,620.28. Following the completion of the sale, the senior vice president directly owned 20,761 shares in the company, valued at $2,601,560.91. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Joan S. Hooper sold 970 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 $121,550.70. Following the sale, the chief financial officer owned 88,394 shares of the company's stock, valued at $11,076,652.14. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,037 shares of company stock valued at $380,566. 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.