Christopher E. Ware, senior vice president, general counsel and corporate secretary at Itron Inc. (NASDAQ: ITRI), sold 348 shares of the company's common stock on February 24, 2026, at a per-share price of $94.8147. The sale generated $32,995 in proceeds, according to a Form 4 filing with the Securities and Exchange Commission.
The filing specifies the disposition was undertaken to satisfy tax withholding obligations stemming from the vesting of a restricted stock unit award. Following the transaction, Ware directly owns 30,695 shares of Itron common stock.
Itron, which has a market capitalization of $4.34 billion, currently trades at a price-to-earnings ratio of 14.8. An InvestingPro analysis cited in the filing indicates the shares are undervalued relative to the model's Fair Value assessment. An InvestingPro Tip included in the disclosure notes that the stock is trading at a low P/E ratio relative to near-term earnings growth, with six additional exclusive tips available to subscribers.
Recent corporate developments include Itron's fourth-quarter 2025 financial results, which outperformed analysts' projections. The company reported earnings per share of $2.46, above the consensus estimate of $2.19, and revenue of $572 million, exceeding the forecasted $561.48 million.
In capital markets activity, Itron priced a private placement of $700 million in convertible senior notes due 2032, up from an initially announced size of $600 million. The offering structure also includes an option for initial purchasers to acquire an additional $105 million in notes.
Market analysts reacted to the company's financial and strategic updates. Oppenheimer raised its price target to $133 from $125 and kept an Outperform rating, citing strong earnings and margin progress. Baird upgraded its rating on Itron to Outperform from Neutral, pointing to opportunities related to utility grid modernization.
This report consolidates the Form 4 disclosure regarding the insider sale and the company's recent financial and financing developments as presented in public filings and analyst commentary included in the disclosure. Where details are limited in the original filings, this article reflects only the information explicitly provided.