Ion Asset Management Ltd. Has $7.54 Million Holdings in Itron, Inc. $ITRI

Key Points

• Ion Asset Management Ltd. has increased its stake in Itron, Inc. by 20%, owning a total of 72,000 shares valued at approximately $7.54 million, making it the company's 21st largest position.
• Itron reported earnings of $1.62 per share, exceeding analysts' expectations, and has set a forecast for FY 2025 of 6.000-6.200 EPS.
• A majority of analysts maintain a "buy" rating for Itron, with an average target price of $136.55.

Ion Asset Management Ltd. lifted its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 20.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 72,000 shares of the scientific and technical instruments company's stock after acquiring an additional 12,000 shares during the period. Itron accounts for 0.5% of Ion Asset Management Ltd.'s portfolio, making the stock its 21st biggest holding. Ion Asset Management Ltd. owned about 0.16% of Itron worth $7,543,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Itron in the first quarter worth $45,000. CoreCap Advisors LLC lifted its holdings in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after purchasing an additional 125 shares during the period. Quarry LP lifted its holdings in Itron by 155.6% in the first quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock worth $95,000 after purchasing an additional 554 shares during the period. Contravisory Investment Management Inc. lifted its holdings in Itron by 98.0% in the first quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after purchasing an additional 847 shares during the period. Finally, Captrust Financial Advisors lifted its holdings 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 purchasing an additional 128 shares during the period. Institutional investors own 96.19% of the company's stock.

Itron Trading Down 0.7%

ITRI traded down $0.85 during trading on Wednesday, reaching $117.91. The company had a trading volume of 197,455 shares, compared to its average volume of 592,871. The firm's 50-day simple moving average is $128.83 and its 200 day simple moving average is $117.08. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 0.66 and a beta of 1.46. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $140.04. 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 quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 EPS for the quarter, topping 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 firm had revenue of $606.76 million during the quarter, compared to analyst estimates of $610.36 million. During the same period last year, the company posted $1.21 EPS. The business's quarterly revenue was down .4% compared to the same quarter last year. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. Equities research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Roth Capital upped their price objective on shares of Itron from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. TD Cowen boosted their price target on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Johnson Rice cut shares of Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $128.00 to $145.00 in a research report on Thursday, July 31st. Finally, Stephens set a $130.00 price target on shares of Itron in a research report on Monday, August 4th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $136.55.

Insider Activity at Itron

In other news, SVP John F. Marcolini sold 565 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $70,800.15. Following the completion of the sale, the senior vice president directly owned 14,396 shares of the company's stock, valued at $1,803,962.76. This trade represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joan S. Hooper sold 970 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $121,550.70. Following the sale, the chief financial officer owned 88,394 shares of the company's stock, valued at approximately $11,076,652.14. The trade was a 1.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,037 shares of company stock worth $380,566. 1.51% of the stock is currently owned by corporate insiders.

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.