MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in Itron, Inc. $ITRI

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Itron, Inc. by 9.1% during the first quarter, owning about 0.17% of the company, valued at approximately $8 million.
• Several institutional investors, including Ion Asset Management and Graham Capital Management, have significantly boosted their holdings in Itron, indicating growing institutional interest in the company.
• Analysts have positive outlooks on Itron, with multiple firms projecting price targets above $130 and rating the stock as a "buy," reflecting confidence in its future performance.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,368 shares of the scientific and technical instruments company's stock after acquiring an additional 6,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.17% of Itron worth $8,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITRI. Raiffeisen Bank International AG acquired a new position in Itron during the 4th quarter worth approximately $27,619,000. Wellington Management Group LLP grew its holdings in Itron by 180.7% during the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock worth $36,197,000 after acquiring an additional 214,600 shares in the last quarter. Amundi grew its holdings in Itron by 18.4% during the 1st quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company's stock worth $97,313,000 after acquiring an additional 144,361 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Itron during the 4th quarter worth approximately $14,563,000. Finally, GAMMA Investing LLC grew its holdings in Itron by 10,278.1% during the 1st quarter. GAMMA Investing LLC now owns 122,150 shares of the scientific and technical instruments company's stock worth $12,796,000 after acquiring an additional 120,973 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Insider Transactions at Itron

In related news, SVP Justin K. Patrick sold 388 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $48,620.28. Following the completion of the sale, the senior vice president owned 20,761 shares in the company, valued at $2,601,560.91. This represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John F. Marcolini sold 565 shares of the company'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 $70,800.15. Following the completion of the sale, the senior vice president owned 14,396 shares of the company's stock, valued at approximately $1,803,962.76. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,037 shares of company stock worth $380,566 over the last 90 days. Company insiders own 1.51% of the company's stock.

Wall Street Analyst Weigh In

ITRI has been the subject of several analyst reports. Johnson Rice cut shares of Itron from a "buy" rating to an "accumulate" rating in a report on Friday, August 1st. Guggenheim reiterated a "buy" rating and set a $155.00 price target (up previously 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. JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and upped their target price for the company from $128.00 to $145.00 in a report on Thursday, July 31st. Finally, Roth Capital upped their target price on shares of Itron from $130.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Itron presently has an average rating of "Moderate Buy" and an average price target of $136.55.

Itron Stock Performance

ITRI stock traded down $2.70 on Tuesday, hitting $117.47. The company's stock had a trading volume of 587,125 shares, compared to its average volume of 586,925. The firm has a 50 day moving average of $127.28 and a two-hundred day moving average of $117.62. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $140.04. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 20.08, 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 (NASDAQ:ITRI - Get Free Report) last released 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. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm had revenue of $606.76 million during the quarter, compared to the consensus estimate of $610.36 million. During the same quarter in the prior year, the firm earned $1.21 EPS. Itron's revenue for the quarter was down .4% on a year-over-year basis. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. Equities analysts predict 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.