Itron Stock: Surges 10% Despite Executive Sales

The stock of U.S. measurement technology company Itron is currently experiencing remarkable upward momentum, climbing over 10 percent in the past week. Despite this positive trend, several executives at the $4.6 billion company recently divested shares. Chief Financial Officer Joan S. Hooper sold 1,774 shares at an average price of $102.45 per share, totaling approximately $181,754. Two senior vice presidents also sold shares: the SVP for Device Solutions sold 321 shares worth $32,887, while the SVP for Network Solutions divested 642 shares for $65,775. According to the company, these sales were specifically conducted to cover tax liabilities associated with the transfer of Restricted stock Units. Following these transactions, the executives still maintain substantial holdings in the company, with Hooper retaining 90,302 shares.

Financial Results Exceed Analyst Expectations

Itron's recent quarterly results significantly outperformed market forecasts. For Q4 2024, the company reported earnings per share of $1.35, surpassing the projected $1.05. Revenue rose to $613 million, exceeding the expected $604.28 million. Looking ahead, Itron has projected 2025 earnings per share between $5.20 and $5.60 with revenue between $2.4 and $2.5 billion—both figures above market expectations. These strong results prompted positive analyst responses, with several firms increasing their price targets while maintaining buy recommendations. The company's "Outcomes" segment appears particularly promising, featuring record orders and a solid $4.7 billion backlog. With over $1 billion in cash and a net debt ratio of 0.7, Itron is well-positioned for strategic flexibility in future development.

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Source StockWorld