Itron, Inc. $ITRI Shares Sold by Guinness Asset Management LTD

Key Points

• Guinness Asset Management LTD has reduced its stake in Itron, Inc. by 28.9%, selling 55,889 shares, leaving them with 137,196 shares valued at approximately $14.37 million.
• Several institutional investors, including UBS and Wellington Management, have significantly increased their holdings in Itron, showcasing strong investor interest in the company.
• Itron's stock recently received multiple upgrades from analysts, with price targets rising, including a new target of $155 issued by Guggenheim, indicating positive market sentiment.

Guinness Asset Management LTD reduced its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 28.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 137,196 shares of the scientific and technical instruments company's stock after selling 55,889 shares during the quarter. Guinness Asset Management LTD owned about 0.30% of Itron worth $14,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Itron by 0.7% during 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 during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Itron by 3.7% during 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 during the last quarter. Captrust Financial Advisors lifted its position in Itron by 6.3% in the fourth quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock worth $233,000 after buying an additional 128 shares during the last quarter. HighTower Advisors LLC lifted its position in Itron by 2.0% in the first quarter. HighTower Advisors LLC now owns 7,501 shares of the scientific and technical instruments company's stock worth $786,000 after buying an additional 146 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in Itron by 7.3% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,345 shares of the scientific and technical instruments company's stock worth $246,000 after buying an additional 160 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Itron Stock Up 0.5%

Shares of Itron stock traded up $0.63 during trading on Monday, hitting $120.17. 430,032 shares of the stock traded hands, compared to its average volume of 595,168. The firm has a market cap of $5.49 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.48. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $140.04. The stock's fifty day simple moving average is $127.60 and its 200 day simple moving average is $117.63.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 EPS for the quarter, beating the consensus estimate 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 business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $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. On average, equities analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ITRI has been the subject of a number of analyst reports. Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Johnson Rice downgraded Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. Roth Capital increased their target price on Itron from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Guggenheim reiterated 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. Finally, JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $128.00 to $145.00 in a research note on Thursday, July 31st. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.55.

Insider Buying and Selling

In other Itron news, SVP Justin K. Patrick sold 388 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 value of $48,620.28. Following the transaction, the senior vice president owned 20,761 shares in the company, valued at $2,601,560.91. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher E. Ware sold 351 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 $43,983.81. Following the completion of the transaction, the senior vice president owned 19,117 shares in the company, valued at $2,395,551.27. This trade represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,037 shares of company stock valued at $380,566 over the last three months. Corporate 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.