News Summary
The New York State Teachers Retirement System has raised its stake in Itron, Inc. by 4.9%, acquiring a total of 55,064 shares valued at approximately $7.2 million. Other institutional investors, like Wayfinding Financial and REAP Financial, have also made notable investments in Itron. Despite insider trading activity reflecting some sell-offs, analyst ratings remain positive, with several firms raising their target prices for the company. Itron continues to engage in various sectors, including energy and water management, showcasing good operational strength amid significant institutional interest.
New York—The New York State Teachers Retirement System has increased its stake in Itron, Inc. (NASDAQ: ITRI) by 4.9% during the second quarter of this year. This enhancement means that the fund now possesses a total of 55,064 shares of Itron after acquiring an additional 2,560 shares in recent months. As of the close of the most recent quarter, the total value of the New York State Teachers Retirement System’s investment in Itron stands at approximately $7,248,000, which constitutes roughly 0.12% of the overall company.
Institutional movements surrounding Itron have been notable, with Wayfinding Financial LLC entering the market with a new position worth around $45,000 in the first quarter. Other significant investments include REAP Financial Group LLC, which increased its position in Itron by an impressive 168.4% during the second quarter, now holding a total of 424 shares valued at $56,000 after purchasing an additional 266 shares. Quarry LP also saw substantial growth, raising its holdings in Itron by 155.6% in the first quarter, leading to a total of 910 shares valued at $95,000. Farther Finance Advisors LLC increased their stake by 52.5% in the second quarter, now owning 1,240 shares worth approximately $163,000 following an addition of 427 shares. Meanwhile, ST Germain D J Co. Inc. also acquired a new stake in Itron valued at $170,000 during the same quarter.
Overall, institutional investors and hedge funds hold a significant portion of Itron’s stock, amounting to roughly 96.19% of the entire company. Insider trading activity has also been noteworthy, with Senior Vice President Justin K. Patrick selling 388 shares of Itron stock on August 25th at an average price of $125.31, realizing a total of $48,620.28. Following this transaction, Patrick retains ownership of 20,761 shares valued at around $2,601,560.91, marking a 1.83% decrease in his holdings. CFO Joan S. Hooper also sold 970 shares at the same average price for a total of $121,550.70, while maintaining ownership of 88,394 shares valued approximately at $11,076,652.14. In the last quarter alone, insiders collectively sold 3,037 shares of Itron stock, resulting in a total worth of $380,566, with insider ownership at about 1.51% of the company.
Analyst ratings reflect a positive outlook for Itron, featuring one Strong Buy, ten Buy, and two Hold ratings. Notably, Guggenheim has raised its target price for Itron from $133.00 to $155.00 while reiterating a “buy” rating. Similarly, Roth Capital has increased its target price from $130.00 to $150.00, maintaining a “buy” rating, and JPMorgan Chase & Co. has elevated its price target from $145.00 to $155.00, also assigning an “overweight” rating to the stock. Recently, the company’s stock exhibited a 12-month low of $90.11 and a high of $140.04, with a current opening price of $131.33.
Itron currently boasts a market capitalization of $6 billion, alongside a price-to-earnings (P/E) ratio of 22.45 and a P/E/G ratio of 0.72. The company’s quarterly earnings report revealed earnings per share (EPS) of $1.62, surpassing analyst expectations of $1.33. However, revenue for the quarter was reported at $606.76 million, slightly falling short of analyst projections. Additionally, Itron provided a fiscal year 2025 guidance of EPS between 6.000-6.200 and Q3 2025 EPS guidance between 1.450-1.550. Analysts predict that Itron will post an EPS of 5.33 for the current year.
Operationally, Itron engages in various sectors such as energy, water management, and smart city solutions, providing essential hardware for measurement and control applications. With the growing interest from institutional investors and positive analyst sentiments, Itron’s position in the market seems increasingly robust as it navigates through ongoing investment movements.
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