Readystate Asset Management LP Makes New $1.81 Million Investment in Itron, Inc. $ITRI

Readystate Asset Management LP acquired a new stake in Itron, Inc. (NASDAQ:ITRI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,902 shares of the scientific and technical instruments company’s stock, valued at approximately $1,809,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Itron during the 4th quarter worth about $63,990,000. Jupiter Topco LLC acquired a new position in shares of Itron during the second quarter worth about $42,466,000. Soros Fund Management LLC purchased a new stake 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 buying an additional 369,617 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Itron in the second quarter valued at approximately $29,108,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Itron

In other Itron news, SVP Justin K. Patrick sold 10,210 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $97.36, for a total transaction of $994,045.60. Following the transaction, the senior vice president directly owned 22,065 shares of the company’s stock, valued at approximately $2,148,248.40. This trade represents a 31.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Marcolini sold 331 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $98.79, for a total transaction of $32,699.49. Following the completion of the sale, the senior vice president directly owned 12,683 shares of the company’s stock, valued at $1,252,953.57. The trade was a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 17,903 shares of company stock valued at $1,753,521 over the last ninety days. 1.77% of the stock is owned by insiders.

Itron Stock Performance

Shares of ITRI stock opened at $97.01 on Tuesday. The stock’s 50-day moving average is $93.98 and its two-hundred day moving average is $89.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.29 and a current ratio of 2.75. Itron, Inc. has a 1 year low of $77.77 and a 1 year high of $142.00. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.16 and a beta of 1.33.

Itron (NASDAQ:ITRI) last announced its earnings results on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.30. The firm had revenue of $562.90 million during the quarter, compared to analysts’ expectations of $566.34 million. Itron had a return on equity of 19.26% and a net margin of 11.90%.The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. Analysts predict that Itron, Inc. will post 6.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on ITRI shares. Needham & Company LLC boosted their price target on shares of Itron from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Itron in a research report on Wednesday, May 20th. Robert W. Baird set a $125.00 target price on shares of Itron in a research note on Wednesday, July 29th. Seaport Research Partners restated a “buy” rating and issued a $150.00 price target on shares of Itron in a research note on Wednesday, July 29th. Finally, Zacks Research raised Itron from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.

Itron Company Profile

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.