Cramer Rosenthal Mcglynn LLC Trims Stock Holdings in Itron, Inc. $ITRI

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its stake in Itron, Inc. by 41.3%, selling 71,258 shares and now holding approximately 101,471 shares worth $10.63 million.
• Several institutional investors, including MetLife Investment Management and Groupe la Francaise, significantly increased their positions in Itron, reflecting a growing interest in the stock.
• Itron recently reported $1.62 EPS for the last quarter, exceeding analysts' expectations of $1.33, despite a slight year-over-year revenue decline of 0.4%.

Cramer Rosenthal Mcglynn LLC lessened its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 41.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,471 shares of the scientific and technical instruments company's stock after selling 71,258 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.22% of Itron worth $10,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ITRI. Raiffeisen Bank International AG acquired a new position in Itron during the 4th quarter worth approximately $27,619,000. Wellington Management Group LLP increased its position in Itron by 180.7% during the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock worth $36,197,000 after purchasing an additional 214,600 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Itron during the 4th quarter worth approximately $14,563,000. GAMMA Investing LLC increased its position in Itron by 10,278.1% during the 1st quarter. GAMMA Investing LLC now owns 122,150 shares of the scientific and technical instruments company's stock worth $12,796,000 after purchasing an additional 120,973 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in Itron by 21.5% during the 4th quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock worth $60,857,000 after purchasing an additional 99,142 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITRI. JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and upped their price target for the company from $128.00 to $145.00 in a research report on Thursday, July 31st. Guggenheim restated a "buy" rating and issued a $155.00 price target (up from $133.00) on shares of Itron in a research report on Monday, July 14th. TD Cowen upped their price target on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Johnson Rice cut shares of Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Itron from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Eleven investment 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 stock presently has an average rating of "Moderate Buy" and an average price target of $136.25.

Itron Stock Down 0.4%

Shares of Itron stock traded down $0.54 during trading hours on Friday, reaching $122.94. The company's stock had a trading volume of 650,596 shares, compared to its average volume of 591,198. Itron, Inc. has a one year low of $90.11 and a one year high of $140.04. The company has a market capitalization of $5.62 billion, a P/E ratio of 21.02, a P/E/G ratio of 0.68 and a beta of 1.35. The stock's fifty day simple moving average is $130.46 and its two-hundred day simple moving average is $115.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.29. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm had revenue of $606.76 million for the quarter, compared to analyst estimates of $610.36 million. During the same period last year, the firm earned $1.21 earnings per share. The business's quarterly revenue was down .4% compared to the same quarter last year. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. On average, research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 547 shares of Itron stock in a transaction dated 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. The trade was a 2.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John F. Marcolini sold 565 shares of Itron stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $70,800.15. Following the completion of the sale, the senior vice president directly owned 14,396 shares in the company, valued at approximately $1,803,962.76. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,856 shares of company stock valued at $1,922,470. Company insiders own 1.45% of the company's stock.

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.