Senior Vice President, Device Solutions at Itron Inc., Patrick Justin K, executed a sale of 4,930 shares of the company's common stock on February 19, 2026. The shares were disposed of at a per-share price of $99.5385, producing gross proceeds of $490,724. Following the disposition, Patrick directly holds 34,344 shares of Itron.
The filing notes the sale represented less than 0.01% of Itron's market capitalization, which stands at $4.41 billion. The company disclosed that the transaction was completed to satisfy tax withholding obligations associated with the vesting of a performance-based restricted stock unit award.
In parallel corporate developments, Itron said it intends to commence a private offering of $600 million in convertible senior notes due 2032. The company also indicated it may grant initial purchasers the option to purchase an additional $90 million of notes during a specified period.
Financially, Itron reported strong fourth-quarter fiscal 2025 results. The company posted earnings per share of $2.46, above a consensus forecast of $2.19. Revenue for the quarter came in at $572 million versus a projected $561.48 million. Management's fiscal 2026 guidance was described as exceeding market expectations, and that outlook has been cited as a contributor to positive investor sentiment.
Analyst reaction to the quarter and guidance included a price-target increase and rating action. Oppenheimer raised its Itron price target to $133 while maintaining an Outperform rating, pointing to the company's strong results and margin progress. Baird moved its rating to Outperform from Neutral, noting a multi-year opportunity related to utility grid modernization efforts.
Taken together, the insider sale, convertible note proposal, and stronger-than-expected quarterly results form the current factual backdrop for Itron. The insider sale was explicitly tied to tax obligations from RSU vesting, and the company has publicly announced its convertible note offering plans and reported the quarter's financial metrics and ensuing analyst revisions.