Bayforest Capital Ltd Raises Stock Holdings in Itron, Inc. $ITRI

Bayforest Capital Ltd lifted its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 27.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,054 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,074 shares during the quarter. Bayforest Capital Ltd’s holdings in Itron were worth $665,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ITRI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Itron by 129.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company’s stock valued at $76,713,000 after purchasing an additional 413,487 shares during the last quarter. Amundi increased its position in shares of Itron by 18.4% during the 1st quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company’s stock valued at $97,313,000 after purchasing an additional 144,361 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Itron by 347.2% during the 1st quarter. MetLife Investment Management LLC now owns 121,043 shares of the scientific and technical instruments company’s stock valued at $12,680,000 after purchasing an additional 93,977 shares during the last quarter. Trexquant Investment LP increased its position in shares of Itron by 122.5% during the 1st quarter. Trexquant Investment LP now owns 168,535 shares of the scientific and technical instruments company’s stock valued at $17,656,000 after purchasing an additional 92,773 shares during the last quarter. Finally, Palisades Investment Partners LLC bought a new position in shares of Itron during the 2nd quarter valued at about $9,683,000. 96.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Roth Capital increased their target price on Itron from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Itron in a report on Wednesday, October 8th. Johnson Rice cut Itron from a “buy” rating to an “accumulate” rating in a report on Friday, August 1st. Wall Street Zen upgraded Itron from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, June 20th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.10.

Insider Buying and Selling at Itron

In other Itron news, SVP Justin K. Patrick sold 388 shares of Itron stock in a transaction on Monday, August 25th. The stock was sold at an average price of $125.31, for a total value of $48,620.28. Following the completion of the sale, the senior vice president owned 20,761 shares of the company’s stock, valued at approximately $2,601,560.91. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Donald L. Reeves III sold 547 shares of Itron stock in a transaction on Monday, August 25th. The stock was sold at an average price of $125.31, for a total value of $68,544.57. Following the completion of the sale, the senior vice president directly owned 19,604 shares of the company’s stock, valued at approximately $2,456,577.24. The trade was a 2.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,037 shares of company stock valued at $380,566 in the last ninety days. Corporate insiders own 1.51% of the company’s stock.

Itron Trading Up 5.0%

ITRI opened at $128.28 on Tuesday. The stock has a market cap of $5.86 billion, a PE ratio of 21.93, a PEG ratio of 0.67 and a beta of 1.48. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $123.47 and a 200-day moving average of $120.13. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $140.04.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.29. The business had revenue of $606.76 million during the quarter, compared to analysts’ expectations of $610.36 million. Itron had a return on equity of 19.69% and a net margin of 11.05%.The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. Equities research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

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.