Itron, Inc. $ITRI Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Itron, Inc. by 1.6% during the first quarter, now owning 1.24% of the company, valued at approximately $59 million.
• Recent insider trades show SVP John F. Marcolini and CFO Joan S. Hooper both sold shares of Itron, leading to a total of 15,856 shares sold by insiders in the last ninety days.
• Itron's quarterly earnings report revealed an EPS of $1.62, exceeding estimates, though revenue was slightly below consensus, indicating a 0.4% year-over-year decline.

Northern Trust Corp lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 563,284 shares of the scientific and technical instruments company's stock after selling 8,982 shares during the quarter. Northern Trust Corp owned approximately 1.24% of Itron worth $59,010,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ITRI. Janney Montgomery Scott LLC boosted its holdings in Itron by 0.7% during the first quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company's stock worth $1,759,000 after buying an additional 121 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after buying an additional 125 shares in the last quarter. Captrust Financial Advisors raised its holdings in Itron by 6.3% during the fourth quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock worth $233,000 after acquiring an additional 128 shares in the last quarter. HighTower Advisors LLC raised its holdings in Itron by 2.0% during the first quarter. HighTower Advisors LLC now owns 7,501 shares of the scientific and technical instruments company's stock worth $786,000 after acquiring an additional 146 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its holdings in Itron by 7.3% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,345 shares of the scientific and technical instruments company's stock worth $246,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. 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 raised shares of Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Roth Capital increased their target price on shares of Itron from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Johnson Rice cut Itron from a "buy" rating to an "accumulate" rating in a report on Friday, August 1st. Finally, TD Cowen boosted their price target on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $136.25.

Insider Activity at Itron

In related news, CFO Joan S. Hooper sold 970 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 $121,550.70. Following the completion of the transaction, the chief financial officer directly owned 88,394 shares of the company's stock, valued at approximately $11,076,652.14. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher E. Ware sold 351 shares of the company'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 $43,983.81. Following the completion of the transaction, the senior vice president owned 19,117 shares in the company, valued at $2,395,551.27. This represents a 1.80% 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 in the last 90 days. 1.45% of the stock is currently owned by insiders.

Itron Stock Performance

Shares of ITRI stock traded down $0.54 during trading hours on Friday, reaching $122.94. The company had a trading volume of 650,643 shares, compared to its average volume of 595,992. The business has a fifty day moving average price of $130.36 and a 200-day moving average price of $115.81. Itron, Inc. has a one year low of $90.11 and a one year high of $140.04. The firm has a market cap of $5.62 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 0.68 and a beta of 1.35. 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 results 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 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 analyst estimates of $610.36 million. During the same period in the previous year, the business posted $1.21 earnings per share. The business'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. Sell-side analysts predict that Itron, Inc. will post 5.33 earnings per share 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.