Oppenheimer Asset Management Inc. Buys New Position in Itron, Inc. $ITRI

Oppenheimer Asset Management Inc. acquired a new stake in shares of Itron, Inc. (NASDAQ:ITRI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,260 shares of the scientific and technical instruments company’s stock, valued at approximately $692,000.

Several other large investors also recently made changes to their positions in ITRI. Wayfinding Financial LLC acquired a new position in shares of Itron in the first quarter worth about $45,000. REAP Financial Group LLC raised its position in shares of Itron by 168.4% in the second quarter. REAP Financial Group LLC now owns 424 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 266 shares during the period. Quarry LP raised its position in shares of Itron by 155.6% in the first quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company’s stock valued at $95,000 after purchasing an additional 554 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Itron by 52.5% in the second quarter. Farther Finance Advisors LLC now owns 1,240 shares of the scientific and technical instruments company’s stock worth $163,000 after acquiring an additional 427 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Itron in the second quarter worth $170,000. Institutional investors own 96.19% of the company’s stock.

Analyst Ratings Changes

ITRI has been the topic of a number of recent research reports. Roth Capital lifted their price target on shares of Itron from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $118.00 price target (down from $137.00) on shares of Itron in a report on Friday. Stephens reissued an “equal weight” rating and set a $130.00 price objective on shares of Itron in a report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Itron in a research report on Wednesday, October 8th. Finally, Oppenheimer set a $145.00 price objective on Itron and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Itron has an average rating of “Moderate Buy” and an average price target of $139.00.

Itron Stock Performance

ITRI opened at $100.33 on Friday. The business’s fifty day moving average is $124.67 and its 200-day moving average is $123.10. The firm has a market cap of $4.59 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $142.00.

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

Insiders Place Their Bets

In other news, SVP Justin K. Patrick sold 388 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $48,620.28. Following the completion of the sale, the senior vice president owned 20,761 shares in the company, valued at $2,601,560.91. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John F. Marcolini sold 565 shares of Itron stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $70,800.15. Following the transaction, the senior vice president directly owned 14,396 shares in the company, valued at approximately $1,803,962.76. The trade was a 3.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,037 shares of company stock valued at $380,566 in the last 90 days. Company insiders own 1.45% of the company’s stock.

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.