Stock Traders Buy Large Volume of Itron Put Options (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI) was the target of some unusual options trading on Friday. Stock traders acquired 3,237 put options on the stock. This represents an increase of approximately 1,543% compared to the average volume of 197 put options.

Insider Activity

In related news, CFO Joan Hooper sold 4,406 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $98.86, for a total value of $435,577.16. Following the completion of the transaction, the chief financial officer directly owned 117,113 shares in the company, valued at approximately $11,577,791.18. The trade was a 3.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP John F. Marcolini sold 331 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $98.79, for a total value of $32,699.49. Following the sale, the senior vice president directly owned 12,683 shares of the company’s stock, valued at approximately $1,252,953.57. The trade was a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 7,693 shares of company stock worth $759,475 in the last 90 days. Corporate insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Itron

Several hedge funds have recently modified their holdings of ITRI. California State Teachers Retirement System increased its position in shares of Itron by 7,889.6% in the second quarter. California State Teachers Retirement System now owns 4,397,628 shares of the scientific and technical instruments company’s stock valued at $380,527,000 after acquiring an additional 4,342,586 shares during the last quarter. Norges Bank acquired a new position in Itron during the fourth quarter valued at approximately $63,990,000. Jupiter Topco LLC bought a new position in Itron in the second quarter valued at approximately $42,466,000. Soros Fund Management LLC bought a new position in Itron in the fourth quarter valued at approximately $34,843,000. Finally, Millennium Management LLC increased its position in shares of Itron by 269.3% during the 4th quarter. Millennium Management LLC now owns 506,867 shares of the scientific and technical instruments company’s stock worth $47,068,000 after purchasing an additional 369,617 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Analyst Upgrades and Downgrades

ITRI has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Itron from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 27th. Robert W. Baird set a $125.00 target price on shares of Itron in a research note on Wednesday, July 29th. Needham & Company LLC increased their target price on Itron from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of Itron in a research note on Wednesday, May 20th. Finally, Seaport Research Partners restated a “buy” rating and issued a $150.00 price target on shares of Itron in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $131.33.

Itron Stock Down 1.7%

Shares of ITRI stock traded down $1.65 during trading on Friday, reaching $93.90. The company’s stock had a trading volume of 63,866 shares, compared to its average volume of 854,269. The business has a fifty day moving average price of $93.45 and a 200-day moving average price of $89.93. The company has a quick ratio of 2.29, a current ratio of 2.75 and a debt-to-equity ratio of 0.96. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Itron has a one year low of $77.77 and a one year high of $142.00.

Itron (NASDAQ:ITRI) last released its earnings results on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.30. The business had revenue of $562.90 million during the quarter, compared to the consensus estimate of $566.34 million. Itron had a net margin of 11.90% and a return on equity of 19.26%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. 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 anticipate that Itron will post 6.41 earnings per share for the current year.

About Itron

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.