Jennison Associates LLC Sells 8,087 Shares of Itron, Inc. $ITRI

Jennison Associates LLC trimmed its holdings in Itron, Inc. (NASDAQ:ITRI) by 57.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,885 shares of the scientific and technical instruments company’s stock after selling 8,087 shares during the period. Jennison Associates LLC’s holdings in Itron were worth $775,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Itron by 125.7% in the second quarter. Bessemer Group Inc. now owns 255 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 142 shares during the last quarter. REAP Financial Group LLC boosted its position in 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 worth $56,000 after purchasing an additional 266 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Itron in the first quarter worth about $45,000. Quarry LP boosted its position in Itron by 155.6% in 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 last quarter. Finally, Nisa Investment Advisors LLC boosted its position in 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 currently owned by institutional investors.

Itron Stock Down 7.9%

ITRI stock opened at $100.33 on Friday. The business’s 50-day moving average price is $124.67 and its 200-day moving average price is $123.10. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $142.00. The stock has a market cap of $4.59 billion, a P/E ratio of 17.15, a PEG ratio of 0.76 and a beta of 1.48.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 EPS for the quarter, topping 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 company had revenue of $581.63 million for the quarter, compared to analysts’ expectations of $578.49 million. During the same period in the previous year, the firm earned $1.84 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Itron has set its FY 2025 guidance at 6.840-6.940 EPS. Q4 2025 guidance at 2.150-2.250 EPS. On average, equities research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 547 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 value of $68,544.57. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher E. Ware sold 351 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 value of $43,983.81. Following the completion of the transaction, the senior vice president directly owned 19,117 shares in the company, valued at approximately $2,395,551.27. This represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,037 shares of company stock worth $380,566 in the last quarter. 1.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ITRI has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Itron from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Itron in a research report on Wednesday, October 8th. Johnson Rice cut Itron from a “buy” rating to an “accumulate” rating in a research report on Friday, August 1st. Wall Street Zen raised Itron from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Oppenheimer set a $145.00 price objective on Itron and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $139.00.

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.