Palisades Investment Partners LLC Takes Position in Itron, Inc. $ITRI

Key Points

• Palisades Investment Partners LLC acquired 73,563 shares of Itron, Inc., valued at approximately $9.7 million, making it the firm's 5th biggest position in its portfolio.
• Insider selling occurred as two senior vice presidents sold shares at an average price of $125.31, resulting in a decrease of their respective holdings by 1.80% and 2.71%.
• Itron reported a quarterly earnings per share of $1.62, exceeding expectations, and has set guidance for FY 2025 EPS between $6.000-6.200.

Palisades Investment Partners LLC acquired a new stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 73,563 shares of the scientific and technical instruments company's stock, valued at approximately $9,683,000. Itron comprises approximately 4.2% of Palisades Investment Partners LLC's investment portfolio, making the stock its 5th biggest position. Palisades Investment Partners LLC owned approximately 0.16% of Itron as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ITRI. Wayfinding Financial LLC bought a new position in shares of Itron during the 1st quarter valued at about $45,000. Quarry LP increased its position in shares of Itron by 155.6% during the 1st quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock valued at $95,000 after purchasing an additional 554 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Itron by 52.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,240 shares of the scientific and technical instruments company's stock valued at $163,000 after purchasing an additional 427 shares during the last quarter. ST Germain D J Co. Inc. bought a new position in shares of Itron during the 2nd quarter valued at about $170,000. Finally, Contravisory Investment Management Inc. increased its position in shares of Itron by 98.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock valued at $179,000 after purchasing an additional 847 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Itron news, SVP Christopher E. Ware sold 351 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 value of $43,983.81. Following the completion of the sale, the senior vice president owned 19,117 shares in the company, valued at approximately $2,395,551.27. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 547 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 value of $68,544.57. Following the completion of the sale, the senior vice president owned 19,604 shares of the company's stock, valued at approximately $2,456,577.24. This trade represents a 2.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,037 shares of company stock worth $380,566. Insiders own 1.45% of the company's stock.

Itron Trading Up 1.0%

NASDAQ ITRI opened at $123.97 on Friday. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week 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. The stock has a 50 day simple moving average of $125.16 and a two-hundred day simple moving average of $118.58. The stock has a market cap of $5.67 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share 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 business had revenue of $606.76 million during the quarter, compared to analysts' expectations of $610.36 million. During the same quarter last year, the business posted $1.21 EPS. The business's revenue 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. On average, analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Johnson Rice lowered Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $128.00 to $145.00 in a research report on Thursday, July 31st. TD Cowen increased their target price on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Guggenheim restated a "buy" rating and set a $155.00 target price (up from $133.00) on shares of Itron in a report on Monday, July 14th. Finally, Stephens set a $130.00 target price on Itron in a report on Monday, August 4th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $137.10.

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.

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