Hsbc Holdings PLC Acquires 226,580 Shares of Itron, Inc. $ITRI

Key Points

• Hsbc Holdings PLC dramatically increased its Itron stake in Q1, buying 226,580 additional shares and lifting its holdings by 3,377.3% to 233,289 shares worth about $20.7 million.
• Several other institutional investors also added to or initiated positions in Itron, and institutions now own 96.19% of the company’s stock.
• Itron recently beat quarterly earnings estimates, reporting $1.49 EPS versus the expected $1.26, though revenue fell 3.3% year over year; analysts currently have a consensus Hold rating with an average target price of $131.22.

Hsbc Holdings PLC raised its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 3,377.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 233,289 shares of the scientific and technical instruments company's stock after purchasing an additional 226,580 shares during the period. Hsbc Holdings PLC owned approximately 0.53% of Itron worth $20,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors bought a new stake in shares of Itron in the fourth quarter worth $10,460,000. Peregrine Capital Management LLC grew its position in Itron by 19.3% during the fourth quarter. Peregrine Capital Management LLC now owns 103,474 shares of the scientific and technical instruments company's stock valued at $9,609,000 after buying an additional 16,742 shares during the period. DNB Asset Management AS purchased a new stake in Itron during the fourth quarter valued at approximately $12,191,000. WINTON GROUP Ltd purchased a new stake in Itron during the fourth quarter valued at approximately $5,795,000. Finally, Tema Etfs LLC raised its position in Itron by 88.6% in the fourth quarter. Tema Etfs LLC now owns 96,566 shares of the scientific and technical instruments company's stock worth $8,967,000 after acquiring an additional 45,360 shares during the period. Institutional investors own 96.19% of the company's stock.

Wall Street Analyst Weigh In

ITRI has been the topic of several analyst reports. Roth Capital reiterated a "buy" rating and set a $136.00 price target on shares of Itron in a research note on Wednesday, April 29th. Stephens reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Itron in a report on Wednesday, May 20th. JPMorgan Chase & Co. lowered their target price on Itron from $133.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. Raymond James Financial initiated coverage on Itron in a research report on Tuesday, April 21st. They issued an "underperform" rating for the company. Finally, Zacks Research downgraded Itron from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $131.22.

Insiders Place Their Bets

In other news, SVP John F. Marcolini sold 322 shares of Itron stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total value of $27,167.14. Following the completion of the transaction, the senior vice president owned 24,689 shares in the company, valued at approximately $2,083,010.93. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald L. Reeves III sold 319 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total value of $26,914.03. Following the sale, the senior vice president owned 29,100 shares in the company, valued at $2,455,167. The trade was a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,946 shares of company stock valued at $324,420 over the last ninety days. 1.77% of the stock is owned by insiders.

Itron Price Performance

Itron stock opened at $84.14 on Wednesday. Itron, Inc. has a 52-week low of $77.77 and a 52-week high of $142.00. The company has a quick ratio of 2.24, a current ratio of 2.66 and a debt-to-equity ratio of 0.97. The firm's fifty day moving average is $82.79 and its 200 day moving average is $90.05. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.74 and a beta of 1.32.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.23. Itron had a net margin of 12.31% and a return on equity of 19.54%. The business had revenue of $586.98 million during the quarter, compared to analysts' expectations of $572.04 million. During the same period last year, the company posted $1.52 EPS. The business's revenue was down 3.3% on a year-over-year basis. Itron has set its Q2 2026 guidance at 1.250-1.350 EPS. Sell-side analysts forecast that Itron, Inc. will post 6.01 EPS for the current fiscal year.

Itron Profile

Itron, Inc NASDAQ: ITRI is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company's offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron's product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.

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