Capital Fund Management S.A. Raises Holdings in Itron, Inc. $ITRI

Key Points

• Capital Fund Management S.A. has increased its holdings in Itron, Inc. by 41.2%, acquiring an additional 21,830 shares to reach a total of 74,784 shares valued at approximately $7.83 million.
• Itron reported a quarterly earnings per share of $1.62, exceeding analyst expectations, though its revenue saw a 0.4% decline year-over-year.
• Research analysts have a consensus rating of "Moderate Buy" for Itron, with a projected price target of $136.25 following recent upgrades from several firms.

Capital Fund Management S.A. increased its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 41.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,784 shares of the scientific and technical instruments company's stock after buying an additional 21,830 shares during the quarter. Capital Fund Management S.A. owned about 0.16% of Itron worth $7,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in shares of Itron in the 1st quarter worth $266,000. Envestnet Asset Management Inc. raised its position in shares of Itron by 119.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 77,060 shares of the scientific and technical instruments company's stock worth $8,073,000 after buying an additional 41,984 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Itron by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,278 shares of the scientific and technical instruments company's stock worth $658,000 after buying an additional 2,201 shares during the period. Principal Financial Group Inc. raised its position in shares of Itron by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 270,672 shares of the scientific and technical instruments company's stock worth $28,356,000 after buying an additional 6,700 shares during the period. Finally, California First Leasing Corp raised its position in shares of Itron by 220.8% in the 1st quarter. California First Leasing Corp now owns 26,950 shares of the scientific and technical instruments company's stock worth $2,823,000 after buying an additional 18,550 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Down 1.0%

Shares of NASDAQ ITRI opened at $123.41 on Friday. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $140.04. The company has a market cap of $5.64 billion, a P/E ratio of 21.10, a P/E/G ratio of 0.68 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $130.47 and a 200 day moving average price of $115.00.

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, beating the consensus estimate of $1.33 by $0.29. The company 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 company's revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $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. Research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ITRI shares. Johnson Rice lowered Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. TD Cowen increased their price target on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and increased their price target for the company from $128.00 to $145.00 in a report on Thursday, July 31st. Piper Sandler lowered their price target on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Itron presently has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Insider Activity at Itron

In other news, CFO Joan S. Hooper sold 938 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $107,823.10. Following the completion of the sale, the chief financial officer directly owned 89,364 shares in the company, valued at $10,272,391.80. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 529 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $60,808.55. Following the sale, the senior vice president owned 20,151 shares of the company's stock, valued at $2,316,357.45. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,755 shares of company stock valued at $1,879,397. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.