Swedbank AB Raises Stock Holdings in Itron, Inc. $ITRI

Swedbank AB boosted its position in Itron, Inc. (NASDAQ:ITRI) by 1,191.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,100 shares of the scientific and technical instruments company’s stock after purchasing an additional 53,600 shares during the quarter. Swedbank AB’s holdings in Itron were worth $7,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Impax Asset Management Group plc purchased a new stake in shares of Itron in the 2nd quarter worth about $91,998,000. Norges Bank bought a new stake in Itron during the second quarter worth about $71,727,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Itron by 129.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company’s stock worth $76,713,000 after purchasing an additional 413,487 shares during the period. Merewether Investment Management LP increased its stake in shares of Itron by 1,552.7% during the second quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company’s stock valued at $39,593,000 after purchasing an additional 282,587 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Itron by 21.2% during the second quarter. Handelsbanken Fonder AB now owns 943,564 shares of the scientific and technical instruments company’s stock valued at $124,201,000 after purchasing an additional 165,300 shares during 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 553 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 13,843 shares in the company, valued at $1,335,987.93. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 536 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $96.51, for a total transaction of $51,729.36. Following the completion of the sale, the senior vice president owned 19,068 shares in the company, valued at $1,840,252.68. This represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,971 shares of company stock valued at $286,731 over the last three months. Corporate insiders own 1.45% of the company’s stock.

Itron Trading Up 0.6%

Itron stock opened at $96.46 on Friday. Itron, Inc. has a one year low of $90.11 and a one year high of $142.00. The business’s fifty day moving average is $104.52 and its 200 day moving average is $119.35. The stock has a market capitalization of $4.42 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 0.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.17 and a quick ratio of 1.91.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $581.63 million during the quarter, compared to analyst estimates of $578.49 million. Itron had a return on equity of 17.82% and a net margin of 10.69%.Itron’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 EPS. Itron has set its FY 2025 guidance at 6.840-6.940 EPS and its Q4 2025 guidance at 2.150-2.250 EPS. On average, sell-side analysts predict that Itron, Inc. will post 5.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ITRI. Zacks Research lowered Itron from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Baird R W cut Itron from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Oppenheimer set a $145.00 price target on Itron and gave the stock an “outperform” rating in a research report on Friday, October 31st. Argus reiterated a “hold” rating on shares of Itron in a research note on Tuesday, November 4th. Finally, Robert W. Baird restated a “neutral” rating and set a $118.00 price objective (down from $137.00) on shares of Itron in a research note on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.00.

About Itron

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.