Hsbc Holdings PLC Purchases 9,461 Shares of Itron, Inc. $ITRI

Key Points

• HSBC Holdings PLC increased its stake in Itron, Inc. by 42.7%, now holding approximately $3.28 million worth of shares.
• A number of analysts have set new price targets for Itron, with Roth Capital raising the target from $130.00 to $150.00 and JPMorgan Chase & Co. upgrading their rating to "overweight" with a target increase to $145.00.
• Itron recently reported a quarterly earnings per share (EPS) of $1.62, surpassing analysts' expectations, despite a slight decline in revenue compared to the same quarter last year.

Hsbc Holdings PLC lifted its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 42.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,610 shares of the scientific and technical instruments company's stock after acquiring an additional 9,461 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Itron worth $3,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITRI. Mariner LLC increased its position in Itron by 6.3% during the 4th quarter. Mariner LLC now owns 3,448 shares of the scientific and technical instruments company's stock worth $374,000 after purchasing an additional 204 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Itron during the 4th quarter worth approximately $229,000. Voya Investment Management LLC increased its position in Itron by 12.1% during the 4th quarter. Voya Investment Management LLC now owns 98,856 shares of the scientific and technical instruments company's stock worth $10,734,000 after purchasing an additional 10,673 shares in the last quarter. Northern Trust Corp increased its position in Itron by 11.4% during the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock worth $62,137,000 after purchasing an additional 58,546 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Itron by 49.7% during the 4th quarter. AQR Capital Management LLC now owns 152,789 shares of the scientific and technical instruments company's stock worth $16,590,000 after purchasing an additional 50,693 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Insider Buying and Selling at Itron

In related news, SVP Justin K. Patrick sold 9,036 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the transaction, the senior vice president directly owned 21,149 shares of the company's stock, valued at $2,575,313.73. This represents a 29.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 970 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $125.31, for a total transaction of $121,550.70. Following the completion of the transaction, the chief financial officer directly owned 88,394 shares in the company, valued at $11,076,652.14. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,856 shares of company stock valued at $1,922,470 over the last 90 days. Insiders own 1.45% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ITRI. Wall Street Zen upgraded shares of Itron from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stephens set a $130.00 price target on shares of Itron in a research report on Monday, August 4th. Roth Capital upped their price target on shares of Itron from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Guggenheim restated a "buy" rating and issued a $155.00 price target (up from $133.00) on shares of Itron in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and upped their price target for the company from $128.00 to $145.00 in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Itron Trading Down 0.4%

Shares of NASDAQ:ITRI traded down $0.54 during trading on Friday, reaching $122.94. The stock had a trading volume of 650,643 shares, compared to its average volume of 595,992. The firm's fifty day moving average is $130.36 and its 200 day moving average is $115.81. 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, Inc. has a 52 week low of $90.11 and a 52 week high of $140.04. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 0.68 and a beta of 1.35.

Itron (NASDAQ:ITRI - Get Free Report) last posted 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 company had revenue of $606.76 million for the quarter, compared to analyst estimates of $610.36 million. Itron had a net margin of 11.05% and a return on equity of 19.69%. The company's quarterly revenue 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, equities analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal 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.