336,392 Shares in Itron, Inc. $ITRI Purchased by Legal & General Group Plc

by · The Markets Daily

Legal & General Group Plc purchased a new stake in Itron, Inc. (NASDAQ:ITRI – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 336,392 shares of the scientific and technical instruments company’s stock, valued at approximately $29,108,000. Legal & General Group Plc owned about 0.77% of Itron as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Itron during the fourth quarter worth approximately $63,990,000. Soros Fund Management LLC bought a new position in shares of Itron during the fourth quarter worth approximately $34,843,000. Millennium Management LLC increased its stake in shares of Itron by 269.3% during the fourth quarter. Millennium Management LLC now owns 506,867 shares of the scientific and technical instruments company’s stock worth $47,068,000 after purchasing an additional 369,617 shares during the period. Merewether Investment Management LP lifted its holdings in Itron by 1,552.7% during the 2nd quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company’s stock worth $39,593,000 after purchasing an additional 282,587 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Itron by 20.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company’s stock valued at $137,659,000 after purchasing an additional 265,039 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ITRI. Zacks Research upgraded Itron from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of Itron in a research report on Wednesday, May 20th. Needham & Company LLC upped their price target on shares of Itron from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Robert W. Baird set a $125.00 price target on shares of Itron in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Itron in a research note on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.33.

View Our Latest Analysis on Itron

Itron Trading Down 1.8%

Shares of Itron stock opened at $97.53 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.75 and a debt-to-equity ratio of 0.96. Itron, Inc. has a 12-month low of $77.77 and a 12-month high of $142.00. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.19 and a beta of 1.30. The firm’s 50-day moving average price is $92.32 and its two-hundred day moving average price is $90.08.

Itron (NASDAQ:ITRI – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.30. Itron had a net margin of 11.90% and a return on equity of 19.26%. The business had revenue of $562.90 million for the quarter, compared to analyst estimates of $566.34 million. During the same quarter last year, the business posted $1.62 EPS. The firm’s revenue for the quarter 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. On average, analysts forecast that Itron, Inc. will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In other news, SVP John F. Marcolini sold 331 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 $32,699.49. Following the transaction, the senior vice president owned 12,683 shares in the company, valued at approximately $1,252,953.57. This trade represents a 2.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald L. Reeves III sold 283 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $99.99, for a total value of $28,297.17. Following the transaction, the senior vice president directly owned 27,662 shares of the company’s stock, valued at $2,765,923.38. This trade represents a 1.01% 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 quarter, insiders have sold 7,693 shares of company stock valued at $759,475. 1.77% of the stock is currently owned by corporate insiders.

Itron Company Profile

(Free Report)

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.

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