Davis Investment Partners LLC Acquires New Holdings in Itron, Inc. $ITRI

Key Points

• Davis Investment Partners LLC has acquired a new stake in Itron, Inc., purchasing 5,014 shares valued at approximately $665,000 in the second quarter.
• Analysts have set a new consensus price target of $136.55 for Itron, with ten analysts rating the stock as a "Buy" and one as a "Hold."
• Itron reported $1.62 EPS for the last quarter, surpassing the analyst expectations, although its revenue saw a slight decline of 0.4% year-over-year.

Davis Investment Partners LLC acquired a new stake in Itron, Inc. (NASDAQ:ITRI - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 5,014 shares of the scientific and technical instruments company's stock, valued at approximately $665,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in Itron by 0.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company's stock valued at $1,759,000 after acquiring an additional 121 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Itron by 3.7% in the 1st quarter. Evergreen Capital Management LLC now owns 3,586 shares of the scientific and technical instruments company's stock valued at $376,000 after acquiring an additional 127 shares in the last quarter. Captrust Financial Advisors lifted its stake in Itron by 6.3% in 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 acquiring an additional 128 shares in the last quarter. HighTower Advisors LLC lifted its stake in Itron by 2.0% in the 1st quarter. HighTower Advisors LLC now owns 7,501 shares of the scientific and technical instruments company's stock valued at $786,000 after acquiring an additional 146 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in Itron by 7.3% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,345 shares of the scientific and technical instruments company's stock valued at $246,000 after acquiring an additional 160 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stephens set a $130.00 target price on Itron in a research note on Monday, August 4th. Johnson Rice cut Itron from a "buy" rating to an "accumulate" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $128.00 to $145.00 in a research note on Thursday, July 31st. Guggenheim reiterated a "buy" rating and set a $155.00 price objective (up previously from $133.00) on shares of Itron in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and an average price target of $136.55.

Insider Activity

In other Itron news, SVP John F. Marcolini sold 565 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $70,800.15. Following the transaction, the senior vice president owned 14,396 shares in the company, valued at $1,803,962.76. This trade represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher E. Ware sold 351 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $125.31, for a total value of $43,983.81. Following 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. Over the last ninety days, insiders have sold 3,037 shares of company stock worth $380,566. Corporate insiders own 1.51% of the company's stock.

Itron Stock Down 0.8%

ITRI stock opened at $119.54 on Monday. 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 firm has a market capitalization of $5.47 billion, a PE ratio of 20.43, a PEG ratio of 0.66 and a beta of 1.46. Itron, Inc. has a 1-year low of $90.11 and a 1-year high of $140.04. The business's 50 day simple moving average is $127.88 and its 200 day simple moving average is $117.55.

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

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.

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