State of Alaska Department of Revenue Purchases 2,169 Shares of Itron, Inc. $ITRI

Key Points

• The State of Alaska Department of Revenue increased its holdings in Itron, Inc. by 8.7%, acquiring an additional 2,169 shares during the second quarter, bringing its total to 27,153 shares.
• Several institutional investors significantly adjusted their positions in Itron, contributing to a total of 96.19% institutional ownership of the company's stock.
• Itron's latest earnings report showed earnings per share of $1.62, exceeding estimates, despite a slight year-over-year revenue decline of 0.4%.

State of Alaska Department of Revenue lifted its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 8.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,153 shares of the scientific and technical instruments company's stock after acquiring an additional 2,169 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Itron worth $3,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Itron during the 1st quarter worth $45,000. Quarry LP lifted its holdings in Itron by 155.6% during the 1st 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings in 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 worth $163,000 after purchasing an additional 427 shares in the last quarter. ST Germain D J Co. Inc. purchased a new stake in Itron during the 2nd quarter worth about $170,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Itron by 233.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,509 shares of the scientific and technical instruments company's stock worth $199,000 after purchasing an additional 1,057 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Analysts Set New Price Targets

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

Itron Stock Performance

NASDAQ:ITRI opened at $124.56 on Wednesday. The business's 50-day moving average price is $124.71 and its two-hundred day moving average price is $118.86. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $140.04. The stock has a market cap of $5.69 billion, a P/E ratio of 21.29, a PEG ratio of 0.68 and a beta of 1.46. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48.

Itron (NASDAQ:ITRI - Get Free Report) last released 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. The firm had revenue of $606.76 million for the quarter, compared to analysts' expectations of $610.36 million. Itron had a return on equity of 19.69% and a net margin of 11.05%.The company's revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. 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, equities analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Activity at Itron

In related news, SVP John F. Marcolini sold 565 shares of the firm'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 $70,800.15. Following the transaction, the senior vice president directly owned 14,396 shares of the company's stock, valued at approximately $1,803,962.76. This trade represents a 3.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Justin K. Patrick sold 388 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $48,620.28. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,037 shares of company stock worth $380,566 in the last quarter. 1.51% of the stock is owned by company insiders.

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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