Arvin Capital Management LP Acquires Shares of 63,291 Itron, Inc. $ITRI

Arvin Capital Management LP acquired a new stake 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 institutional investor acquired 63,291 shares of the scientific and technical instruments company’s stock, valued at approximately $8,331,000. Itron accounts for about 1.7% of Arvin Capital Management LP’s investment portfolio, making the stock its 22nd biggest holding. Arvin Capital Management LP owned approximately 0.14% of Itron at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in Itron by 125.7% during the 2nd quarter. Bessemer Group Inc. now owns 255 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 142 shares during the period. REAP Financial Group LLC raised its stake in shares of Itron by 168.4% during 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 acquiring an additional 266 shares during the last quarter. Allworth Financial LP raised its stake in shares of Itron by 63.8% during the second quarter. Allworth Financial LP now owns 696 shares of the scientific and technical instruments company’s stock valued at $92,000 after acquiring an additional 271 shares during the last quarter. Quarry LP boosted its holdings in shares of Itron by 155.6% during the first quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company’s stock worth $95,000 after purchasing an additional 554 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Itron by 20.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,008 shares of the scientific and technical instruments company’s stock worth $133,000 after purchasing an additional 168 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Itron

In other Itron news, CFO Joan S. Hooper sold 948 shares of Itron stock in a transaction on Monday, November 24th. The stock was sold at an average price of $96.51, for a total transaction of $91,491.48. Following the completion of the transaction, the chief financial officer owned 87,446 shares in the company, valued at approximately $8,439,413.46. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher E. Ware sold 343 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $96.51, for a total value of $33,102.93. Following the completion of the sale, the senior vice president directly owned 18,774 shares in the company, valued at $1,811,878.74. This trade represents a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,971 shares of company stock worth $286,731 over the last quarter. 1.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on ITRI shares. Argus reiterated a “hold” rating on shares of Itron in a report on Tuesday, November 4th. JPMorgan Chase & Co. upped their target price on Itron from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Johnson Rice lowered Itron from a “buy” rating to an “accumulate” rating in a research note on Friday, August 1st. Oppenheimer set a $145.00 price objective on shares of Itron and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Robert W. Baird restated a “neutral” rating and issued a $118.00 price objective (down from $137.00) on shares of Itron in a report on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.00.

Itron Trading Up 0.2%

Shares of NASDAQ ITRI opened at $96.98 on Wednesday. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $142.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.04 and a quick ratio of 1.75. The firm has a 50-day moving average of $117.70 and a 200 day moving average of $122.47. The stock has a market cap of $4.44 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.52.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Itron had a net margin of 11.05% and a return on equity of 19.69%. The business had revenue of $581.63 million during the quarter, compared to the consensus estimate of $578.49 million. During the same quarter last year, the firm earned $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. As a group, sell-side analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Itron Profile

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.