Itron, Inc. $ITRI Shares Sold by Ardsley Advisory Partners LP

Key Points

• Ardsley Advisory Partners LP has significantly reduced its stake in Itron, Inc. by 69.6%, selling 97,500 shares and now owning 42,500 shares valued at approximately $4.45 million.
• Itron reported a 1.62 EPS for the most recent quarter, exceeding analysts' expectations of $1.33, despite a marginal decline in revenue compared to the previous year.
• Analysts have set new price targets for Itron, with Guggenheim upgrading its target to $155.00, reflecting a generally positive outlook on the company's stock.

Ardsley Advisory Partners LP trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 69.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,500 shares of the scientific and technical instruments company's stock after selling 97,500 shares during the quarter. Ardsley Advisory Partners LP owned 0.09% of Itron worth $4,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Itron by 2.7% during the first 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 during the period. Amundi increased its stake 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 acquiring an additional 144,361 shares during the period. Northern Trust Corp increased its stake in shares of Itron by 11.4% during the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock worth $62,137,000 after acquiring an additional 58,546 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Itron by 21.5% during 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 acquiring an additional 99,142 shares during the period. Finally, Janus Henderson Group PLC grew its position in Itron by 2.4% during 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 buying an additional 12,810 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Trading Down 0.6%

Shares of ITRI traded down $0.67 on Friday, hitting $120.45. 623,729 shares of the stock traded hands, compared to its average volume of 484,868. 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 firm has a market capitalization of $5.51 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.66 and a beta of 1.46. The stock's 50 day moving average is $129.33 and its two-hundred day moving average is $116.75. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $140.04.

Itron (NASDAQ:ITRI - Get Free Report) last announced 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. The business 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%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. As a group, sell-side analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ITRI shares. Johnson Rice lowered shares of Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $128.00 to $145.00 in a research report on Thursday, July 31st. Roth Capital upped their target price on shares of Itron from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Stephens set a $130.00 target price on shares of Itron in a research report on Monday, August 4th. Finally, Guggenheim restated a "buy" rating and set a $155.00 target price (up from $133.00) on shares of Itron in a research report on Monday, July 14th. Ten 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 has an average rating of "Moderate Buy" and a consensus target price of $136.55.

Insider Activity at Itron

In other Itron news, SVP Christopher E. Ware sold 351 shares of the 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 $43,983.81. Following the transaction, the senior vice president owned 19,117 shares of the company's stock, valued at $2,395,551.27. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 970 shares of the 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 transaction, the chief financial officer directly owned 88,394 shares in the company, valued at approximately $11,076,652.14. This represents a 1.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,073 shares of company stock valued at $1,480,880 over the last 90 days. 1.45% of the stock is currently owned by insiders.

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.