On August 26, Christopher E. Ware, the Senior Vice President, General Counsel, and Corporate Secretary of Itron, Inc., sold 92 shares of the company's common stock at a price of $102.1499 per share, totaling approximately $9,397. This sale was part of an automatic sale to cover tax withholding obligations related to a restricted stock unit award.
Following the transaction, Ware's direct ownership in the company now stands at 15,189 shares. Itron, Inc., headquartered in Liberty Lake, Washington, specializes in instruments for measuring and testing electricity and electronic signals, providing solutions in the industrial applications and services sector.
Investors often watch insider trading activity for insights into a company's performance and direction. The recent sale by a high-ranking executive like Ware can be of interest to current and potential shareholders. Details of the transaction were disclosed in a Form 4 filing with the SEC on August 28.
In other news, Itron, Inc. reported a strong second quarter with a 13% increase in revenue compared to the previous year. The company highlighted its commitment to grid modernization and resilience, emphasizing its Grid Edge Intelligence platform and strategic partnerships.
Analysis of Itron, Inc.'s Financial Health
Looking at Itron's financial health, the company has shown strong revenue growth of 22.16% in the last twelve months as of Q2 2024. Its gross profit margin stands at 34.01%, indicating profitability amidst expansion. The P/E ratio of 24.69 suggests optimism about future earnings potential, while the PEG ratio of 0.06 indicates potential undervaluation.
Investors should note that analysts have revised earnings projections upward, signaling positive momentum for Itron's performance. Additionally, the company's strong cash flows cover interest payments, providing reassurance for debt and equity investors.
For more insights into Itron, Inc.'s financials and prospects, check out additional InvestingPro Tips. These tips can help in making informed investment decisions regarding the company.
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