Fred Alger Management LLC Cuts Stake in Itron, Inc. $ITRI

Fred Alger Management LLC cut its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 42.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,750 shares of the scientific and technical instruments company’s stock after selling 114,758 shares during the quarter. Fred Alger Management LLC owned 0.35% of Itron worth $19,774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRI. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Itron during the second quarter worth $30,000. Employees Retirement System of Texas acquired a new position in Itron during the 3rd quarter worth $32,000. Optiver Holding B.V. acquired a new position in Itron during the 3rd quarter worth $36,000. Salomon & Ludwin LLC purchased a new stake in Itron during the 3rd quarter worth about $42,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Itron during the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ITRI. Johnson Rice upgraded Itron from an “accumulate” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Monday, January 5th. Robert W. Baird set a $128.00 target price on shares of Itron and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Wall Street Zen cut shares of Itron from a “buy” rating to a “hold” rating in a report on Wednesday, January 14th. Guggenheim set a $155.00 price target on shares of Itron in a report on Friday, February 13th. Finally, Zacks Research raised shares of Itron from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.10.

Insider Activity at Itron

In related news, CFO Joan S. Hooper sold 3,533 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $95.92, for a total value of $338,885.36. Following the transaction, the chief financial officer directly owned 118,275 shares of the company’s stock, valued at $11,344,938. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 519 shares of Itron stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $97.84, for a total transaction of $50,778.96. Following the sale, the senior vice president owned 29,951 shares in the company, valued at $2,930,405.84. This represents a 1.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,180 shares of company stock valued at $5,085,475 in the last quarter. Company insiders own 1.51% of the company’s stock.

Itron Trading Up 1.4%

ITRI opened at $91.28 on Tuesday. Itron, Inc. has a one year low of $88.57 and a one year high of $142.00. The company has a market cap of $4.10 billion, a P/E ratio of 14.02, a PEG ratio of 0.78 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.56 and a current ratio of 1.80. The business’s 50-day simple moving average is $97.22 and its 200-day simple moving average is $106.36.

Itron (NASDAQ:ITRI) last posted its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.27. The firm had revenue of $571.66 million during the quarter, compared to analysts’ expectations of $561.31 million. Itron had a return on equity of 20.04% and a net margin of 12.72%.The firm’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share. Itron has set its Q1 2026 guidance at 1.200-1.300 EPS and its FY 2026 guidance at 5.750-6.250 EPS. As a group, equities research analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

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.