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 lessened its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 28.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,196 shares of the scientific and technical instruments company's stock after selling 55,889 shares during the period. Guinness Asset Management LTD owned approximately 0.30% of Itron worth $14,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRI. Sowell Financial Services LLC acquired a new stake in shares of Itron in the 1st quarter valued at $266,000. Envestnet Asset Management Inc. raised its holdings in shares of Itron by 119.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 77,060 shares of the scientific and technical instruments company's stock valued at $8,073,000 after purchasing an additional 41,984 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Itron by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,278 shares of the scientific and technical instruments company's stock valued at $658,000 after purchasing an additional 2,201 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Itron by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 270,672 shares of the scientific and technical instruments company's stock valued at $28,356,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Itron by 42.7% in the 1st quarter. Hsbc Holdings PLC now owns 31,610 shares of the scientific and technical instruments company's stock valued at $3,277,000 after purchasing an additional 9,461 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Itron Price Performance

ITRI stock traded up $0.13 during trading on Wednesday, reaching $117.60. 109,672 shares of the company were exchanged, compared to its average volume of 592,359. The company has a market cap of $5.38 billion, a P/E ratio of 20.11, a PEG ratio of 0.66 and a beta of 1.46. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $140.04. The stock's 50 day moving average price is $127.28 and its 200 day moving average price is $117.62. 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 announced its earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.29. The company had revenue of $606.76 million during the quarter, compared to analysts' expectations of $610.36 million. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Guggenheim restated a "buy" rating and issued a $155.00 price objective (up from $133.00) on shares of Itron in a report on Monday, July 14th. Wall Street Zen upgraded shares of Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. TD Cowen lifted their price target on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Stephens set a $130.00 price target on shares of Itron in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $128.00 to $145.00 in a research note on Thursday, July 31st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $136.55.

Insider Activity at Itron

In other Itron news, SVP John F. Marcolini sold 565 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 transaction of $70,800.15. Following the completion of the transaction, the senior vice president owned 14,396 shares in the company, valued at approximately $1,803,962.76. The trade was a 3.78% 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 Christopher E. Ware sold 351 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 $43,983.81. Following the transaction, the senior vice president owned 19,117 shares of the company's stock, valued at approximately $2,395,551.27. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,037 shares of company stock valued at $380,566 in the last quarter. 1.51% of the stock is owned by corporate insiders.

Itron 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.