Davis Investment Partners LLC Invests $665,000 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 bought a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,014 shares of the scientific and technical instruments company's stock, valued at approximately $665,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Invesco Ltd. grew its position in shares of Itron by 2.7% in the 1st quarter. Invesco Ltd. now owns 2,310,769 shares of the scientific and technical instruments company's stock valued at $242,076,000 after purchasing an additional 59,962 shares during the period. Amundi grew its position in shares of Itron by 18.4% in the 1st quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company's stock valued at $97,313,000 after purchasing an additional 144,361 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Itron by 129.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company's stock valued at $76,713,000 after purchasing an additional 413,487 shares during the period. Nuveen Asset Management LLC grew its position in shares of Itron by 21.5% in the 4th quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock valued at $60,857,000 after purchasing an additional 99,142 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Itron by 15.2% in the 1st quarter. Wellington Management Group LLP now owns 384,152 shares of the scientific and technical instruments company's stock valued at $40,244,000 after purchasing an additional 50,789 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Performance

ITRI traded down $0.26 during trading hours on Friday, reaching $120.84. The company's stock had a trading volume of 874,203 shares, compared to its average volume of 595,588. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $140.04. The company's 50-day moving average is $126.65 and its 200-day moving average is $117.73. 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 firm has a market cap of $5.52 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 0.65 and a beta of 1.46.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings results 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 return on equity of 19.69% and a net margin of 11.05%.The business had revenue of $606.76 million for the quarter, compared to analysts' expectations of $610.36 million. During the same quarter in the prior year, the business earned $1.21 EPS. The firm's revenue for the quarter was down .4% on a year-over-year basis. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. On average, equities analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ITRI. Stephens set a $130.00 price objective on Itron in a research report on Monday, August 4th. Johnson Rice lowered Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. TD Cowen boosted their target price on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Guggenheim restated a "buy" rating and issued a $155.00 target price (up previously from $133.00) on shares of Itron in a research note on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Itron presently has an average rating of "Moderate Buy" and an average target price 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 1.45% 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.