Bank of America Corp DE Sells 51,560 Shares of Itron, Inc. $ITRI

Key Points

• Bank of America reduced its Itron stake by 15%, selling 51,560 shares during the first quarter and retaining 292,301 shares valued at approximately $26.2 million. Institutional investors collectively own 96.19% of Itron.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $131.33. Targets range from $130 to $150, although Raymond James initiated coverage with an “underperform” rating.
• Itron exceeded quarterly earnings expectations, reporting $1.59 in EPS versus the $1.29 consensus estimate, despite revenue declining 7.2% year over year to $562.9 million. The company issued fiscal 2026 EPS guidance of $6.30 to $6.50.

Bank of America Corp DE reduced its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 15.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,301 shares of the scientific and technical instruments company's stock after selling 51,560 shares during the period. Bank of America Corp DE owned 0.66% of Itron worth $26,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRI. Northwestern Mutual Wealth Management Co. boosted its position in shares of Itron by 343.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company's stock valued at $46,000 after acquiring an additional 268 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Itron by 10.0% in the second quarter. M&T Bank Corp now owns 2,141 shares of the scientific and technical instruments company's stock valued at $282,000 after purchasing an additional 194 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Itron by 25.3% in the second quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 81 shares during the last quarter. Jump Financial LLC bought a new stake in Itron in the second quarter worth $1,609,000. Finally, Cerity Partners LLC raised its stake in Itron by 10.2% during the second quarter. Cerity Partners LLC now owns 5,431 shares of the scientific and technical instruments company's stock valued at $715,000 after purchasing an additional 503 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ITRI. TD Cowen lowered their price objective on shares of Itron from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Roth Capital restated a "buy" rating and issued a $136.00 target price on shares of Itron in a report on Wednesday, April 29th. Weiss Ratings restated a "hold (c)" rating on shares of Itron in a research report on Wednesday, August 5th. Seaport Research Partners reaffirmed a "buy" rating and issued a $150.00 price target on shares of Itron in a report on Wednesday, July 29th. Finally, Raymond James Financial began coverage on Itron in a research note on Tuesday, April 21st. They set an "underperform" rating on the stock. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.33.

Itron Price Performance

NASDAQ ITRI opened at $101.56 on Monday. The company has a quick ratio of 2.29, a current ratio of 2.75 and a debt-to-equity ratio of 0.96. Itron, Inc. has a 52 week low of $77.77 and a 52 week high of $142.00. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 0.83 and a beta of 1.30. The company has a fifty day moving average of $88.74 and a two-hundred day moving average of $90.13.

Itron (NASDAQ:ITRI - Get Free Report) last announced its earnings results on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.30. The business had revenue of $562.90 million for the quarter, compared to the consensus estimate of $566.34 million. Itron had a net margin of 11.90% and a return on equity of 19.26%. The business's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. On average, analysts predict that Itron, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Joan S. Hooper sold 442 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total transaction of $37,291.54. Following the transaction, the chief financial officer owned 117,478 shares of the company's stock, valued at approximately $9,911,618.86. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP John F. Marcolini sold 322 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total value of $27,167.14. Following the completion of the sale, the senior vice president owned 24,689 shares in the company, valued at approximately $2,083,010.93. The trade was a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,822 shares of company stock valued at $314,303 in the last ninety days. 1.77% of the stock is owned by company insiders.

Itron Company Profile

Itron, Inc NASDAQ: ITRI is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company's offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron's product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.

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