LIBERTY LAKE, WA—Thomas Deitrich, President and CEO of Itron, Inc. (NASDAQ:ITRI), recently sold 883 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $119.75, totaling approximately $105,737.
This transaction was noted as an automatic sale to cover tax obligations related to the vesting of a restricted stock unit award. Following this sale, Deitrich holds 204,393 shares directly, with an additional 25,000 shares held indirectly through a trust.
Itron, Inc., headquartered in Liberty Lake, Washington, specializes in instruments for measuring and testing electricity and electronic signals.
In other recent news, Itron, a technology firm, has been reaffirmed with an Outperform rating by Baird, with potential catalysts being highlighted that could further enhance the company's long-term financial targets. These include an uptick in power demand forecasts, a recent acquisition within the Outcomes segment, and a quicker-than-anticipated rollout of government funding for infrastructure projects.
Itron's recent financial performance has been strong, with a 10% increase in revenue year-over-year, reaching $615 million, and an adjusted EBITDA of $89 million. The company's backlog has grown to $4 billion, with bookings of $487 million. In addition, Itron also projects its full-year revenue to be between $2.428 billion and $2.438 billion, marking a 12% increase from the previous year.
The company's non-GAAP earnings per share for the full year are anticipated to be $5.28 to $5.38, a significant 59% increase from 2023. Despite potential challenges in projecting growth for 2025, Itron remains optimistic about its market demand and operational efficiency.
Furthermore, Itron is actively pursuing M&A opportunities to strengthen its grid edge intelligence platform. These are among the recent developments in Itron's ongoing business operations.
InvestingPro Insights
As Itron's CEO Thomas Deitrich executes a strategic stock sale, the company's financial metrics paint a compelling picture of its current market position. According to InvestingPro data, Itron boasts a market capitalization of $5.36 billion, reflecting its substantial presence in the energy management and solutions sector.
The company's P/E ratio of 23.83 suggests a moderate valuation relative to earnings, which aligns with an InvestingPro Tip indicating that Itron is trading at a low P/E ratio relative to its near-term earnings growth. This could signal potential undervaluation, especially considering the company's strong recent performance.
Itron's revenue growth of 16.53% over the last twelve months as of Q3 2024 demonstrates robust business expansion. This growth is complemented by an impressive EBITDA growth of 70.17% over the same period, indicating significant improvement in operational efficiency and profitability.
InvestingPro Tips highlight that Itron has seen a high return over the last year, with price data confirming a remarkable 78.36% total return over the past 12 months. The stock is also trading near its 52-week high, with its current price at 94.48% of the peak, suggesting strong investor confidence.
For readers interested in a deeper analysis, InvestingPro offers 11 additional tips for Itron, providing a comprehensive view of the company's financial health and market position. These insights can be particularly valuable for investors looking to understand the full implications of executive stock transactions in the context of the company's overall performance.
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