Royal Bank of Canada Lowers Stock Position in Itron, Inc. $ITRI

Royal Bank of Canada trimmed its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,340 shares of the scientific and technical instruments company's stock after selling 6,554 shares during the period. Royal Bank of Canada owned approximately 0.47% of Itron worth $22,664,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Graham Capital Management L.P. increased its position in shares of Itron by 116.5% in the first quarter. Graham Capital Management L.P. now owns 22,609 shares of the scientific and technical instruments company's stock worth $2,369,000 after purchasing an additional 12,168 shares during the last quarter. Quarry LP increased its position in shares of Itron by 155.6% in the first quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock worth $95,000 after purchasing an additional 554 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of Itron by 3.7% in the first quarter. Evergreen Capital Management LLC now owns 3,586 shares of the scientific and technical instruments company's stock worth $376,000 after purchasing an additional 127 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Itron in the first quarter worth approximately $551,000. Finally, Tema Etfs LLC increased its position in shares of Itron by 556.0% in the first quarter. Tema Etfs LLC now owns 31,226 shares of the scientific and technical instruments company's stock worth $3,271,000 after purchasing an additional 26,466 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITRI has been the topic of a number of recent research reports. Stephens set a $130.00 price target on shares of Itron in a research report on Monday, August 4th. Roth Capital increased their price target on shares of Itron from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and increased their price target for the company from $128.00 to $145.00 in a research report on Thursday, July 31st. Guggenheim reiterated a "buy" rating and set a $155.00 price target (up from $133.00) on shares of Itron in a research report on Monday, July 14th. Finally, TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.55.

Itron Stock Down 0.8%

Shares of NASDAQ:ITRI traded down $0.96 on Friday, hitting $119.54. 564,703 shares of the company traded hands, compared to its average volume of 578,965. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $140.04. 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 stock has a 50 day simple moving average of $127.88 and a 200-day simple moving average of $117.47. The company has a market cap of $5.47 billion, a PE ratio of 20.43, a PEG ratio of 0.66 and a beta of 1.46.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share 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 the consensus estimate of $610.36 million. During the same period last year, the company earned $1.21 earnings per share. The company'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. As a group, research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Joan S. Hooper sold 970 shares of Itron stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $125.31, for a total value of $121,550.70. Following the completion of the sale, the chief financial officer directly owned 88,394 shares in the company, valued at approximately $11,076,652.14. This trade represents a 1.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher E. Ware sold 351 shares of Itron stock in a transaction dated 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 of the company's stock, valued at $2,395,551.27. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,037 shares of company stock worth $380,566 in the last three months. 1.45% of the stock is currently owned by company insiders.

Itron 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.