Concentric Capital Strategies LP Sells 76,532 Shares of Itron, Inc. $ITRI

Key Points

• Concentric Capital Strategies LP has reduced its holdings in Itron, Inc. by 78.0%, now owning 21,567 shares worth approximately $2.26 million.
• Itron recently reported an earnings per share (EPS) of $1.62 for the last quarter, exceeding analysts' expectations by $0.29, despite a revenue decrease of 0.4% year-over-year.
• Institutional investors and hedge funds own 96.19% of Itron's stock, indicating strong support among large investors.

Concentric Capital Strategies LP decreased its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 78.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 21,567 shares of the scientific and technical instruments company's stock after selling 76,532 shares during the period. Concentric Capital Strategies LP's holdings in Itron were worth $2,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Itron in the 1st quarter valued at about $45,000. CoreCap Advisors LLC raised its holdings in shares of Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after acquiring an additional 125 shares in the last quarter. Quarry LP raised its holdings in shares of Itron by 155.6% during the 1st quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock valued at $95,000 after buying an additional 554 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Itron by 98.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock valued at $179,000 after buying an additional 847 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Itron by 6.3% during the 4th quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock valued at $233,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Insider Transactions at Itron

In other news, SVP Justin K. Patrick sold 9,036 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $121.77, for a total value of $1,100,313.72. Following the completion of the transaction, the senior vice president owned 21,149 shares in the company, valued at $2,575,313.73. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 547 shares of the company'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 $68,544.57. Following the sale, the senior vice president owned 19,604 shares of the company's stock, valued at approximately $2,456,577.24. This trade represents a 2.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,073 shares of company stock valued at $1,480,880. Insiders own 1.51% of the company's stock.

Itron Stock Down 0.3%

Shares of ITRI traded down $0.33 on Monday, reaching $120.12. The stock had a trading volume of 479,782 shares, compared to its average volume of 589,514. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04. The company has a 50-day simple moving average of $129.33 and a 200-day simple moving average of $116.89. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $140.04.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Stephens set a $130.00 price objective on Itron in a report on Monday, August 4th. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $128.00 to $145.00 in a research report on Thursday, July 31st. Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Johnson Rice lowered Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. Finally, TD Cowen raised their price target on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Itron has an average rating of "Moderate Buy" and a consensus price target of $136.55.

About Itron

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.