Handelsbanken Fonder AB Grows Stock Position in Itron, Inc. $ITRI

Handelsbanken Fonder AB raised its position in Itron, Inc. (NASDAQ:ITRI) by 21.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 943,564 shares of the scientific and technical instruments company’s stock after buying an additional 165,300 shares during the quarter. Handelsbanken Fonder AB owned about 2.06% of Itron worth $124,201,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in shares of Itron by 125.7% in the second quarter. Bessemer Group Inc. now owns 255 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 142 shares in the last quarter. REAP Financial Group LLC lifted its position in Itron by 168.4% in the second quarter. REAP Financial Group LLC now owns 424 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 266 shares during the period. Allworth Financial LP boosted its holdings in Itron by 63.8% in the 2nd quarter. Allworth Financial LP now owns 696 shares of the scientific and technical instruments company’s stock valued at $92,000 after purchasing an additional 271 shares in the last quarter. Quarry LP raised its stake 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 worth $95,000 after buying an additional 554 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Itron by 20.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,008 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Activity

In related news, SVP John F. Marcolini sold 565 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 $70,800.15. Following the sale, the senior vice president owned 14,396 shares of the company’s stock, valued at approximately $1,803,962.76. This represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joan S. Hooper sold 970 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $121,550.70. Following the sale, the chief financial officer owned 88,394 shares in the company, valued at approximately $11,076,652.14. This trade represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,037 shares of company stock worth $380,566. 1.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ITRI. Johnson Rice lowered Itron from a “buy” rating to an “accumulate” rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Itron from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Zacks Research downgraded shares of Itron from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Robert W. Baird reiterated a “neutral” rating and issued a $118.00 price objective (down previously from $137.00) on shares of Itron in a research note on Friday, October 31st. Finally, Baird R W downgraded shares of Itron from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.

Itron Price Performance

Itron stock opened at $94.21 on Friday. The firm has a market capitalization of $4.31 billion, a PE ratio of 16.10, a P/E/G ratio of 0.76 and a beta of 1.52. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $142.00. The firm’s 50-day simple moving average is $119.05 and its 200 day simple moving average is $122.49. 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) last posted its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm had revenue of $581.63 million during the quarter, compared to the consensus estimate of $578.49 million. During the same period last year, the firm posted $1.84 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Itron has set its FY 2025 guidance at 6.840-6.940 EPS. Q4 2025 guidance at 2.150-2.250 EPS. On average, equities research analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal year.

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.