Itron Inc. (NASDAQ: ITRI) disclosed on Monday that Laurie Ann Pulatie-Hahn, senior vice president of human resources, sold 178 shares of the company on Aug. 24 at a price of $98.79 per share, totaling $17,584. The transaction was executed to cover tax withholding obligations tied to the vesting of a restricted stock unit award.
Pulatie-Hahn retains a beneficial ownership of 31,930 Itron common shares following the disposal. The company, which provides smart metering and data analytics for utilities, reported second-quarter adjusted earnings of $1.59 per share, exceeding the analyst consensus of $1.29. Revenue for the quarter reached $563 million, slightly below the Wall Street estimate of $566.34 million.
Itron's adjusted gross margin expanded to a record 41.4%, up 460 basis points year-over-year, while the company's market capitalization stands at approximately $4.3 billion. Needham maintained a Buy rating on the stock with a price target of $128, while other analysts' targets range from $115 to $150. Six analysts have revised their earnings estimates upward for the current period.
