Itron, Inc. $ITRI Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Itron stake by 98.2% in the third quarter, selling 330,589 shares and retaining 6,121 shares valued at approximately $528,000. Institutional investors collectively own 96.19% of Itron.
• Itron’s shares opened at $87.65, near the lower end of their 12-month range of $77.77 to $142.00. The company reported quarterly EPS of $1.59, beating estimates of $1.29, although revenue declined 7.2% year over year to $562.9 million.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $131.33, substantially above the reported share price. Insiders have sold 17,903 shares worth about $1.75 million over the past 90 days.

Assenagon Asset Management S.A. trimmed its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 98.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,121 shares of the scientific and technical instruments company's stock after selling 330,589 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Itron were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Readystate Asset Management LP bought a new position in Itron in the second quarter valued at about $1,809,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Itron by 12.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 673,420 shares of the scientific and technical instruments company's stock valued at $60,359,000 after acquiring an additional 73,020 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of Itron by 49.5% in the 1st quarter. WCM Investment Management LLC now owns 87,175 shares of the scientific and technical instruments company's stock valued at $7,312,000 after acquiring an additional 28,857 shares during the last quarter. John G Ullman & Associates Inc. lifted its holdings in Itron by 37.4% during the first quarter. John G Ullman & Associates Inc. now owns 80,656 shares of the scientific and technical instruments company's stock worth $7,229,000 after acquiring an additional 21,975 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Itron in the first quarter valued at about $1,819,000. Institutional investors own 96.19% of the company's stock.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $87.65 on Friday. The firm has a 50 day moving average of $91.57 and a 200-day moving average of $89.05. Itron, Inc. has a 12 month low of $77.77 and a 12 month high of $142.00. The company has a current ratio of 2.75, a quick ratio of 2.29 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $3.84 billion, a PE ratio of 12.45, a PEG ratio of 1.06 and a beta of 1.32.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.30. Itron had a net margin of 11.90% and a return on equity of 19.26%. The business had revenue of $562.90 million for the quarter, compared to analysts' expectations of $566.34 million. During the same period last year, the firm posted $1.62 earnings per share. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. On average, equities research analysts predict that Itron, Inc. will post 6.41 EPS for the current fiscal year.

Insider Buying and Selling at Itron

In other news, SVP Justin Patrick sold 10,210 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $97.36, for a total transaction of $994,045.60. Following the completion of the transaction, the senior vice president owned 22,065 shares of the company's stock, valued at approximately $2,148,248.40. This trade represents a 31.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John F. Marcolini sold 331 shares of Itron stock in a transaction on Monday, August 24th. The stock was sold at an average price of $98.79, for a total transaction of $32,699.49. Following the transaction, the senior vice president owned 12,683 shares in the company, valued at approximately $1,252,953.57. This trade represents a 2.54% 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. Over the last 90 days, insiders sold 17,903 shares of company stock valued at $1,753,521. 1.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ITRI has been the topic of a number of research analyst reports. Seaport Research Partners restated a "buy" rating and set a $150.00 price objective on shares of Itron in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Itron from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, October 12th. Zacks Research downgraded Itron from a "strong-buy" rating to a "hold" rating in a report on Monday, October 19th. Needham & Company LLC raised their target price on shares of Itron from $116.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird set a $125.00 price target on Itron in a research report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $131.33.

About Itron

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company's portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.

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