Norges Bank Acquires Shares of 689,097 Itron, Inc. $ITRI

Norges Bank acquired a new stake in shares of Itron, Inc. (NASDAQ:ITRI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 689,097 shares of the scientific and technical instruments company’s stock, valued at approximately $63,990,000.

Several other institutional investors and hedge funds have also bought and sold shares of ITRI. Northwestern Mutual Wealth Management Co. lifted its stake in Itron by 343.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company’s stock valued at $46,000 after acquiring an additional 268 shares during the period. M&T Bank Corp lifted its stake in Itron by 10.0% during the 2nd quarter. M&T Bank Corp now owns 2,141 shares of the scientific and technical instruments company’s stock valued at $282,000 after acquiring an additional 194 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Itron by 25.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company’s stock valued at $53,000 after acquiring an additional 81 shares during the period. Jump Financial LLC acquired a new stake in Itron during the 2nd quarter valued at approximately $1,609,000. Finally, Cerity Partners LLC lifted its stake in Itron by 10.2% during the 2nd quarter. Cerity Partners LLC now owns 5,431 shares of the scientific and technical instruments company’s stock valued at $715,000 after acquiring an additional 503 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ITRI has been the subject of several research reports. Raymond James Financial initiated coverage on shares of Itron in a research note on Tuesday, April 21st. They set an “underperform” rating for the company. Oppenheimer lifted their price objective on shares of Itron from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Guggenheim set a $155.00 price objective on shares of Itron in a research note on Friday, February 13th. Needham & Company LLC initiated coverage on shares of Itron in a research note on Friday, March 6th. They set a “buy” rating and a $124.00 price objective for the company. Finally, Roth Mkm restated a “buy” rating and set a $136.00 price objective on shares of Itron in a research note on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Itron currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.22.

Itron Stock Performance

NASDAQ:ITRI opened at $80.07 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.24 and a current ratio of 2.66. The company has a fifty day moving average of $86.67 and a two-hundred day moving average of $93.06. The stock has a market capitalization of $3.55 billion, a PE ratio of 12.77, a P/E/G ratio of 0.70 and a beta of 1.33. Itron, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $142.00.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The company had revenue of $586.98 million during the quarter, compared to analysts’ expectations of $572.04 million. Itron had a net margin of 12.31% and a return on equity of 19.54%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. Itron has set its Q2 2026 guidance at 1.250-1.350 EPS. As a group, research analysts forecast that Itron, Inc. will post 6.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 319 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total value of $26,914.03. Following the completion of the sale, the senior vice president directly owned 29,100 shares in the company, valued at $2,455,167. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP John F. Marcolini sold 322 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total transaction of $27,167.14. Following the completion of the sale, the senior vice president owned 24,689 shares of the company’s stock, valued at $2,083,010.93. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 3,946 shares of company stock worth $324,420. Company insiders own 1.77% of the company’s stock.

Itron 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.