BNP Paribas Financial Markets Reduces Stake in Itron, Inc. $ITRI

Key Points

• BNP Paribas Financial Markets significantly reduced its stake in Itron, Inc., selling 1,366,882 shares and now holding about 431,822 shares, which represents a 76.0% decrease in ownership.
• Itron's stock is currently valued at approximately $122.94 per share, down 0.4%, with a market capitalization of $5.62 billion and a P/E ratio of 21.02.
• Analysts maintain a Moderate Buy consensus rating for Itron, with a new average price target of $136.25, indicating positive growth expectations for the stock.

BNP Paribas Financial Markets lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 76.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 431,822 shares of the scientific and technical instruments company's stock after selling 1,366,882 shares during the quarter. BNP Paribas Financial Markets owned about 0.95% of Itron worth $45,238,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ITRI. Mariner LLC increased its holdings in shares of Itron by 6.3% during the fourth quarter. Mariner LLC now owns 3,448 shares of the scientific and technical instruments company's stock valued at $374,000 after acquiring an additional 204 shares in the last quarter. Northern Trust Corp lifted its holdings 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 purchasing an additional 58,546 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Itron by 49.7% during the fourth quarter. AQR Capital Management LLC now owns 152,789 shares of the scientific and technical instruments company's stock worth $16,590,000 after purchasing an additional 50,693 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Itron by 93.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 18,290 shares of the scientific and technical instruments company's stock worth $1,986,000 after purchasing an additional 8,818 shares during the period. Finally, Bayesian Capital Management LP lifted its holdings in shares of Itron by 18.1% during the fourth quarter. Bayesian Capital Management LP now owns 11,100 shares of the scientific and technical instruments company's stock worth $1,205,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 96.19% of the company's stock.

Itron Price Performance

Shares of ITRI stock traded down $0.60 during trading hours on Friday, hitting $120.53. 354,116 shares of the company's stock were exchanged, compared to its average volume of 587,767. 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 cap of $5.51 billion, a P/E ratio of 20.56, a P/E/G ratio of 0.66 and a beta of 1.46. The firm has a 50 day moving average of $129.57 and a two-hundred day moving average of $116.47. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $140.04.

Itron (NASDAQ:ITRI - Get Free Report) last announced its earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.29. The business had revenue of $606.76 million during the quarter, compared to the consensus estimate of $610.36 million. Itron had a return on equity of 19.69% and a net margin of 11.05%.The business's quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company 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. Sell-side analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Analyst Ratings Changes

ITRI has been the subject of a number of research reports. Stephens set a $130.00 target price on Itron in a report on Monday, August 4th. JPMorgan Chase & Co. raised Itron from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $128.00 to $145.00 in a report on Thursday, July 31st. Guggenheim reaffirmed a "buy" rating and set a $155.00 target price (up previously from $133.00) on shares of Itron in a report on Monday, July 14th. Johnson Rice downgraded Itron from a "buy" rating to an "accumulate" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $136.55.

Insider Buying and Selling

In other Itron news, SVP Donald L. Reeves III sold 547 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $125.31, for a total value of $68,544.57. Following the transaction, the senior vice president owned 19,604 shares in the company, valued at approximately $2,456,577.24. This trade represents a 2.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 351 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $43,983.81. Following the completion of the transaction, the senior vice president owned 19,117 shares in the company, valued at $2,395,551.27. The trade was a 1.80% 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 worth $1,480,880 in the last ninety days. Company insiders own 1.45% of the company's stock.

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.