Perpetual Ltd Sells 16,247 Shares of Itron, Inc. $ITRI

Key Points

• Perpetual Ltd reduced its stake in Itron, Inc. by 31.8%, selling 16,247 shares to hold 34,887 shares valued at approximately $4.59 million.
• Itron reported earnings per share (EPS) of $1.62 for the last quarter, exceeding analysts' estimates of $1.33, while revenue decreased 0.4% from the previous year to $606.76 million.
• Equity analysts are mixed on Itron's outlook, with a consensus rating of "Moderate Buy" and differing price targets ranging from $130.00 to $155.00 among various firms.

Perpetual Ltd lowered its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 31.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,887 shares of the scientific and technical instruments company's stock after selling 16,247 shares during the period. Perpetual Ltd owned approximately 0.08% of Itron worth $4,592,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new stake in Itron during the 1st quarter valued at $266,000. Envestnet Asset Management Inc. raised its stake in shares of Itron by 119.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 77,060 shares of the scientific and technical instruments company's stock worth $8,073,000 after buying an additional 41,984 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Itron by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,278 shares of the scientific and technical instruments company's stock worth $658,000 after buying an additional 2,201 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Itron by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 270,672 shares of the scientific and technical instruments company's stock worth $28,356,000 after buying an additional 6,700 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Itron by 42.7% in the 1st quarter. Hsbc Holdings PLC now owns 31,610 shares of the scientific and technical instruments company's stock worth $3,277,000 after buying an additional 9,461 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Wall Street Analyst Weigh In

ITRI has been the topic of a number of research reports. Wall Street Zen downgraded Itron from a "buy" rating to a "hold" rating in a research note on Saturday. Guggenheim restated a "buy" rating and issued a $155.00 target price (up from $133.00) on shares of Itron in a report on Monday, July 14th. Roth Capital lifted their target price on Itron from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $128.00 to $145.00 in a report on Thursday, July 31st. Finally, TD Cowen lifted their price target on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.55.

Insider Buying and Selling

In other news, SVP Christopher E. Ware sold 351 shares of the company's 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 sale, the senior vice president directly owned 19,117 shares in the company, valued at approximately $2,395,551.27. This represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John F. Marcolini sold 565 shares of the company's 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 $70,800.15. Following the completion of the sale, the senior vice president owned 14,396 shares in the company, valued at approximately $1,803,962.76. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,037 shares of company stock worth $380,566. Insiders own 1.51% of the company's stock.

Itron Stock Performance

Itron stock traded up $1.37 during trading hours on Tuesday, hitting $126.44. The stock had a trading volume of 155,973 shares, compared to its average volume of 603,078. The company has a 50-day moving average of $126.17 and a two-hundred day moving average of $118.12. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.78 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $140.04.

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 EPS for the quarter, beating 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 analysts' expectations of $610.36 million. During the same quarter in the prior year, the firm posted $1.21 EPS. The company'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. On average, equities research analysts anticipate 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.