Janney Montgomery Scott LLC Sells 4,783 Shares of Itron, Inc. $ITRI

Key Points

• Janney Montgomery Scott LLC reduced its stake in Itron, Inc. by 28.5%, selling 4,783 shares and holding 12,012 shares valued at approximately $1.58 million.
• Various institutional investors significantly increased their stakes in Itron, including UBS AM which boosted its holdings by 129.7% during the first quarter.
• Itron's stock is rated as a "Moderate Buy" by analysts with an average price target of $137.10, reflecting a positive outlook despite a recent revenue decline compared to last year.

Janney Montgomery Scott LLC lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 28.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,012 shares of the scientific and technical instruments company's stock after selling 4,783 shares during the quarter. Janney Montgomery Scott LLC's holdings in Itron were worth $1,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ITRI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Itron by 129.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company's stock worth $76,713,000 after purchasing an additional 413,487 shares during the period. Amundi boosted its position in Itron by 18.4% during the first quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company's stock worth $97,313,000 after purchasing an additional 144,361 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Itron by 347.2% in the first quarter. MetLife Investment Management LLC now owns 121,043 shares of the scientific and technical instruments company's stock worth $12,680,000 after buying an additional 93,977 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of Itron by 122.5% in the first quarter. Trexquant Investment LP now owns 168,535 shares of the scientific and technical instruments company's stock worth $17,656,000 after buying an additional 92,773 shares in the last quarter. Finally, Palisades Investment Partners LLC purchased a new stake in shares of Itron in the second quarter worth about $9,683,000. Institutional investors own 96.19% of the company's stock.

Insider Buying and Selling at Itron

In other news, SVP Justin K. Patrick sold 388 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $48,620.28. Following the completion of the transaction, the senior vice president directly owned 20,761 shares in the company, valued at approximately $2,601,560.91. This represents a 1.83% decrease in their position. The transaction 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 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 transaction, the chief financial officer owned 88,394 shares of the company's stock, valued at $11,076,652.14. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,037 shares of company stock worth $380,566. 1.45% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITRI. Guggenheim reissued a "buy" rating and issued a $155.00 price target (up from $133.00) on shares of Itron in a report on Monday, July 14th. JPMorgan Chase & Co. raised shares of Itron from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $128.00 to $145.00 in a research note on Thursday, July 31st. Stephens reissued an "equal weight" rating and set a $130.00 price target on shares of Itron in a research note on Tuesday, October 7th. TD Cowen lifted their price target on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, Wall Street Zen raised shares of Itron from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.10.

Itron Stock Performance

Shares of ITRI stock opened at $122.20 on Friday. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $140.04. The stock has a market cap of $5.59 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 0.67 and a beta of 1.48. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.48. The company's fifty day moving average price is $123.42 and its 200-day moving average price is $119.86.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $1.21 EPS. Itron'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. On average, equities analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

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.

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