Itron, Inc. $ITRI Shares Sold by AQR Capital Management LLC

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 stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 35.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other large investors have also recently added to or reduced their stakes in ITRI. Invesco Ltd. grew its holdings in Itron by 2.7% during the 1st quarter. Invesco Ltd. now owns 2,310,769 shares of the scientific and technical instruments company's stock worth $242,076,000 after acquiring an additional 59,962 shares in the last quarter. Amundi lifted its position in shares of Itron by 18.4% during the first quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company's stock worth $97,313,000 after purchasing an additional 144,361 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Itron by 21.5% in the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock worth $60,857,000 after purchasing an additional 99,142 shares in the last quarter. Janus Henderson Group PLC grew its stake in Itron by 2.4% in the fourth quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company's stock worth $58,233,000 after purchasing an additional 12,810 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Itron by 15.2% in the first quarter. Wellington Management Group LLP now owns 384,152 shares of the scientific and technical instruments company's stock valued at $40,244,000 after buying an additional 50,789 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Insider Activity at Itron

In other news, SVP Justin K. Patrick sold 388 shares of the business'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 $48,620.28. Following the completion of the transaction, the senior vice president directly owned 20,761 shares in the company, valued at approximately $2,601,560.91. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John F. Marcolini sold 565 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 value of $70,800.15. Following the completion of the sale, the senior vice president owned 14,396 shares in the company, valued at approximately $1,803,962.76. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,037 shares of company stock valued at $380,566. Company insiders own 1.51% of the company's stock.

Itron Stock Performance

NASDAQ ITRI traded down $2.70 during trading hours on Tuesday, hitting $117.47. The company had a trading volume of 587,125 shares, compared to its average volume of 586,925. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $140.04. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $127.28 and a 200-day simple moving average of $117.62. The firm has a market cap of $5.37 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46.

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 for the quarter, beating the consensus estimate of $1.33 by $0.29. The firm had revenue of $606.76 million for 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%. Itron's quarterly revenue was down .4% compared to the same quarter last year. During the same period last 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. Equities analysts predict that Itron, Inc. will post 5.33 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on ITRI shares. JPMorgan Chase & Co. raised Itron from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $128.00 to $145.00 in a report on Thursday, July 31st. Roth Capital upped their price target on Itron from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. TD Cowen boosted 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. Finally, Johnson Rice cut shares of Itron from a "buy" rating to an "accumulate" rating in a report on Friday, August 1st. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $136.55.

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.