Connor Clark & Lunn Investment Management Ltd. Sells 9,193 Shares of Itron, Inc. $ITRI

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 15.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,310 shares of the scientific and technical instruments company’s stock after selling 9,193 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of Itron worth $6,622,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ITRI. Invesco Ltd. raised its holdings in shares of Itron by 2.7% in the 1st quarter. Invesco Ltd. now owns 2,310,769 shares of the scientific and technical instruments company’s stock worth $242,076,000 after purchasing an additional 59,962 shares during the period. Amundi grew its position in Itron by 18.4% in the first quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company’s stock worth $97,313,000 after acquiring an additional 144,361 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Itron by 129.7% in 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 in the last quarter. Wellington Management Group LLP lifted its position in Itron by 15.2% in the first quarter. Wellington Management Group LLP now owns 384,152 shares of the scientific and technical instruments company’s stock valued at $40,244,000 after purchasing an additional 50,789 shares during the last quarter. Finally, PGGM Investments boosted its holdings in shares of Itron by 6.3% during the second quarter. PGGM Investments now owns 362,558 shares of the scientific and technical instruments company’s stock worth $47,724,000 after purchasing an additional 21,381 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITRI. Baird R W lowered shares of Itron from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. JPMorgan Chase & Co. raised their target price on Itron from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $118.00 price target (down previously from $137.00) on shares of Itron in a report on Friday, October 31st. Stephens upgraded Itron from an “equal weight” rating to an “overweight” rating and set a $130.00 price objective on the stock in a research report on Monday, November 3rd. Finally, Zacks Research raised shares of Itron from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $139.00.

Itron Price Performance

Shares of ITRI opened at $104.88 on Thursday. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $142.00. The company has a market capitalization of $4.80 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.76 and a beta of 1.52. The business’s 50-day moving average is $121.82 and its two-hundred day moving average is $123.11. 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 (NASDAQ:ITRI) last posted its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. The firm had revenue of $581.63 million during the quarter, compared to analyst estimates of $578.49 million. Itron had a net margin of 11.05% and a return on equity of 19.69%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. Itron has set its FY 2025 guidance at 6.840-6.940 EPS. Q4 2025 guidance at 2.150-2.250 EPS. Research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Transactions at Itron

In other Itron news, CFO Joan S. Hooper sold 970 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $121,550.70. Following the transaction, the chief financial officer owned 88,394 shares of the company’s stock, valued at $11,076,652.14. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Justin K. Patrick sold 388 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $48,620.28. Following the sale, the senior vice president owned 20,761 shares in the company, valued at $2,601,560.91. This trade represents a 1.83% decrease in their ownership of the stock. 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 ninety days. 1.51% of the stock is currently owned by corporate insiders.

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.