In a recent series of transactions, Thomas Deitrich, the President and CEO of Itron, Inc. (NASDAQ:ITRI), has sold a significant portion of his holdings in the company. On October 1, 2024, Deitrich sold a total of 37,500 shares of Itron common stock, with the transactions valued at over $3.9 million. The sales were executed at prices ranging from $103.983 to $105.278 per share, according to the latest SEC filings.
These sales are part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to establish predetermined trading plans for selling stocks at a specified time. The plan in question was adopted by Deitrich on May 6, 2025. The transactions were spread across multiple sales with the prices varying within the stated ranges.
The same filing also indicated an acquisition by Deitrich, where he exercised options to purchase 37,500 shares of Itron common stock at a price of $35.13 per share, amounting to a total of $1,317,375. These options were part of an incentive plan and became fully vested on December 10, 2018.
Following these transactions, Deitrich's direct ownership in Itron stands at 205,276 shares. Additionally, there is an indirect ownership of 25,000 shares held in trust. The exercise and sale of options by corporate executives are common practices, often used for personal financial management, diversification, and liquidity purposes.
Investors and followers of Itron, Inc. will likely keep an eye on these insider transactions as they assess the company's stock performance and executive confidence in the firm's future.
In other recent news, Itron, Inc. has appointed David M. Wright as Vice President, Corporate Controller & Chief Accounting Officer. This follows the company's announcement of a new share repurchase program, authorizing the buyback of up to $100 million of Itron's common stock over an 18-month period. In terms of financial performance, Itron has reported a 13% increase in revenue in its second quarter, marking record earnings in its Network Solutions and Outcomes segments. The company's backlog remains substantial at $4.1 billion, with bookings for the quarter totaling $447 million. These are recent developments for Itron, which has also highlighted its Grid Edge Intelligence platform as a key technology for providing visibility and control at the edge of the grid. Looking ahead, Itron expects bookings to be skewed towards the second half of the year, with an annual book-to-bill ratio of one to one or better. The company also noted a $1 billion award pipeline, with the Grid Edge Intelligence platform making up the largest portion. However, Itron advises caution when comparing growth from 2024 to 2025 due to an expected normalization of a $125 million catch-up revenue in 2024.
InvestingPro Insights
To provide additional context to Thomas Deitrich's recent stock transactions, let's examine some key financial metrics and insights for Itron, Inc. (NASDAQ:ITRI).
According to InvestingPro data, Itron's market capitalization stands at $4.67 billion, reflecting its position as a significant player in the technology sector. The company's P/E ratio of 25.28 suggests that investors are willing to pay a premium for its earnings, potentially due to growth expectations.
Itron's financial health appears robust, with InvestingPro Tips highlighting that the company's liquid assets exceed short-term obligations, and it operates with a moderate level of debt. This financial stability may provide context for why the CEO's stock sales, part of a pre-arranged plan, might not necessarily signal concerns about the company's future.
The company's performance has been strong, with a notable revenue growth of 22.16% over the last twelve months as of Q2 2023, reaching $2.35 billion. This growth is complemented by a healthy gross profit margin of 34.01% and an operating income margin of 10.06%, indicating efficient operations.
Investors may find it particularly interesting that Itron has shown a high return over the last year, with a one-year price total return of 80.9%. This impressive performance aligns with the CEO's decision to exercise options, potentially capitalizing on the stock's strong run.
It's worth noting that 9 analysts have revised their earnings upwards for the upcoming period, according to an InvestingPro Tip. This positive sentiment from analysts could suggest continued confidence in Itron's future performance, despite the insider sales.
For readers interested in a more comprehensive analysis, InvestingPro offers 8 additional tips for Itron, providing a deeper understanding of the company's financial position and market outlook.
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