Grantham Mayo Van Otterloo & Co. LLC Takes $10 Million Position in Itron, Inc. $ITRI

Grantham Mayo Van Otterloo & Co. LLC acquired a new position in Itron, Inc. (NASDAQ:ITRI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 76,000 shares of the scientific and technical instruments company’s stock, valued at approximately $10,004,000. Grantham Mayo Van Otterloo & Co. LLC owned 0.17% of Itron at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in Itron by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,300 shares of the scientific and technical instruments company’s stock valued at $2,804,000 after acquiring an additional 100 shares during the period. Amalgamated Bank boosted its holdings in shares of Itron by 0.9% in the second quarter. Amalgamated Bank now owns 12,974 shares of the scientific and technical instruments company’s stock worth $1,708,000 after buying an additional 115 shares during the last quarter. Elevation Point Wealth Partners LLC grew its position in Itron by 3.5% during the second quarter. Elevation Point Wealth Partners LLC now owns 3,398 shares of the scientific and technical instruments company’s stock valued at $447,000 after buying an additional 115 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Itron by 6.0% during the second quarter. J.W. Cole Advisors Inc. now owns 2,056 shares of the scientific and technical instruments company’s stock valued at $271,000 after buying an additional 116 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in 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 acquiring an additional 127 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Activity

In related news, SVP John F. Marcolini sold 553 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $53,370.03. Following the completion of the transaction, the senior vice president directly owned 13,843 shares of the company’s stock, valued at approximately $1,335,987.93. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Justin K. Patrick sold 379 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $36,577.29. Following the transaction, the senior vice president directly owned 20,382 shares of the company’s stock, valued at $1,967,066.82. This trade represents a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,971 shares of company stock valued at $286,731 in the last quarter. Company insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITRI. Wall Street Zen raised shares of Itron from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Zacks Research cut Itron from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Stephens raised Itron from an “equal weight” rating to an “overweight” rating and set a $130.00 price objective on the stock in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Itron in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Itron from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.00.

Itron Stock Up 0.5%

Shares of ITRI opened at $99.05 on Friday. The business’s 50 day moving average is $116.43 and its 200 day moving average is $122.10. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.48. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $142.00. The company has a market capitalization of $4.54 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.76 and a beta of 1.52.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. Itron had a return on equity of 19.69% and a net margin of 11.05%.The business had revenue of $581.63 million during the quarter, compared to the consensus estimate of $578.49 million. During the same period in the prior year, the company posted $1.84 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Itron has set its FY 2025 guidance at 6.840-6.940 EPS. Q4 2025 guidance at 2.150-2.250 EPS. Research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

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.