Itron, Inc. (NASDAQ:ITRI) executive Reeves Donald L. III, the company's Senior Vice President of Outcomes, has recently sold shares in the company. The transaction, which took place on May 24, 2024, involved the sale of 158 shares at a price of $108.87 per share, amounting to a total value of $17,201.
The shares sold by Reeves were part of an automatic transaction to cover tax withholding obligations that arose from the vesting of a restricted stock unit award. Following this transaction, Reeves still holds 16,269 shares of Itron stock, maintaining a significant stake in the company.
This sale reflects a routine process that executives often undertake to manage their stock-based compensation and tax liabilities. The share price at which the sale occurred, $108.87, is a clear and precise figure, indicating the exact value received per share at the time of the transaction.
Investors and stakeholders in Itron may take an interest in such transactions as they provide insights into executive decisions regarding their holdings in the company. It is not uncommon for executives to sell shares for personal financial planning, diversification, or other reasons that may not necessarily reflect their outlook on the company's future performance.
The details of the transaction are publicly available as part of the company's regulatory filings with the Securities and Exchange Commission. As with all such disclosures, the information provides transparency into the trading activities of company insiders.
Itron, Inc., headquartered in Liberty Lake, Washington, specializes in instruments for the measurement and testing of electricity and electronic signals, serving a broad range of industrial applications and services.
InvestingPro Insights
As Itron, Inc. (NASDAQ:ITRI) navigates the complexities of the market, its financial metrics and the actions of its executives provide valuable signals to investors. According to recent data, Itron boasts a market capitalization of approximately $5.05 billion, reflecting its significant presence in the industry. The company's growth trajectory is highlighted by a robust 25.77% increase in revenue over the last twelve months as of Q1 2024, underscoring its expanding operations and market reach. This growth is further evidenced by a 22.0% quarterly revenue growth in Q1 2024, indicating a sustained upward trend.
Investors might also be interested in the company's profitability metrics, with an EBITDA of $261.94 million over the last twelve months as of Q1 2024, and a notable EBITDA growth rate of 147.36%. This financial health is coupled with a P/E ratio of 31.09 and a slightly adjusted P/E ratio of 30.4, which may suggest a premium valuation compared to industry averages.
Turning to "InvestingPro Tips," it's worth noting that Itron has garnered positive attention from analysts, with 7 analysts having revised their earnings estimates upwards for the upcoming period. This optimism is reflective of the company's strong performance, including a notable price uptick over the last six months, with a total return of 66.83%. Additionally, Itron has been trading near its 52-week high, with its current price at 99.14% of this peak, which could indicate investor confidence in the stock.
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