Readystate Asset Management LP Takes $1.81 Million Position in Itron, Inc. $ITRI

Readystate Asset Management LP bought a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,902 shares of the scientific and technical instruments company’s stock, valued at approximately $1,809,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AlphaGrep UK Ltd purchased a new stake in Itron during the 2nd quarter worth approximately $232,000. Raiffeisen Bank International AG lifted its position in shares of Itron by 5.9% in the second quarter. Raiffeisen Bank International AG now owns 250,000 shares of the scientific and technical instruments company’s stock valued at $20,930,000 after acquiring an additional 14,000 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Itron in the second quarter worth approximately $211,000. Two Sigma Securities LLC boosted its stake in shares of Itron by 5.2% in the second quarter. Two Sigma Securities LLC now owns 3,937 shares of the scientific and technical instruments company’s stock worth $341,000 after acquiring an additional 195 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Itron by 1,588.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,478 shares of the scientific and technical instruments company’s stock worth $647,000 after purchasing an additional 7,035 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Price Performance

Shares of ITRI opened at $97.01 on Tuesday. The firm has a 50-day simple moving average of $93.98 and a two-hundred day simple moving average of $89.99. The stock has a market cap of $4.25 billion, a PE ratio of 16.20, a P/E/G ratio of 1.16 and a beta of 1.33. Itron, Inc. has a 1-year low of $77.77 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.75 and a quick ratio of 2.29.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.30. Itron had a net margin of 11.90% and a return on equity of 19.26%. The firm had revenue of $562.90 million during the quarter, compared to analysts’ expectations of $566.34 million. During the same quarter last year, the company posted $1.62 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. As a group, analysts forecast that Itron, Inc. will post 6.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Zacks Research raised Itron from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 27th. Seaport Research Partners reaffirmed a “buy” rating and set a $150.00 target price on shares of Itron in a report on Wednesday, July 29th. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of Itron in a research report on Wednesday, May 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Itron in a research note on Wednesday, August 5th. Finally, Needham & Company LLC boosted their price target on shares of Itron from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.33.

Insider Transactions at Itron

In other news, SVP Donald Reeves, III sold 329 shares of Itron stock in a transaction on Monday, August 24th. The stock was sold at an average price of $98.79, for a total value of $32,501.91. Following the completion of the sale, the senior vice president directly owned 27,945 shares of the company’s stock, valued at approximately $2,760,686.55. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Justin Patrick sold 10,210 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $97.36, for a total value of $994,045.60. Following the transaction, the senior vice president directly owned 22,065 shares in the company, valued at approximately $2,148,248.40. The trade was a 31.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 17,903 shares of company stock valued at $1,753,521. Corporate insiders own 1.77% of the company’s stock.

Itron Profile

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.