Patrick Justin K., Senior Vice President for Device Solutions at Itron Inc. (NASDAQ: ITRI), executed a sale of 385 shares of the company's common stock on February 24, 2026, a Form 4 filing with the Securities and Exchange Commission shows. The shares were sold at a per-share price of $94.8147 for a total transaction value of $36,503. The filing indicates the sale was made to cover tax withholding obligations arising from the vesting of a restricted stock unit award. After the disposition, Patrick Justin K. directly holds 33,131 shares of Itron.
The insider transaction coincides with a broader set of company developments. Itron's trailing price-to-earnings ratio sits at 14.8, a level that InvestingPro's analysis characterizes as low relative to the company's near-term earnings growth potential. InvestingPro's Fair Value analysis suggests the stock may be undervalued at current market levels, and the platform notes that subscribers can access additional ProTips and financial metrics for deeper context.
From an operating and market perspective, Itron reported fourth-quarter 2025 results that surpassed analyst expectations. The company posted earnings per share of $2.46, outpacing the consensus forecast of $2.19. Revenue for the quarter totaled $572 million, above the anticipated $561.48 million. These better-than-expected financials prompted at least two notable analyst reactions: Oppenheimer raised its price target on Itron shares to $133 while maintaining an Outperform rating, and Baird upgraded Itron's rating to Outperform from Neutral, citing opportunities in utility grid modernization.
At the same time, Itron priced a private offering of convertible senior notes due 2032 with a principal amount of $700 million, an increase from an initially planned $600 million. The offering also includes an option for the initial purchasers to acquire an additional $105 million in notes. The expanded size of the offering was disclosed alongside the company updates.
Taken together, the insider sale and the company announcements present a mix of signals: a routine tax-driven disposition by an executive, a set of quarterly results that topped forecasts, analyst endorsements tied to strategic opportunities in grid technology, and a larger convertible debt issuance than first proposed. The SEC Form 4 filing supplies the specific transaction details, while the financial results and capital-markets actions were disclosed in corporate reporting and related analyst commentary.
For investors and market observers, the precise motivations behind corporate financing choices and analyst adjustments are documented in the filings and reports cited; the insider sale itself was executed expressly to meet tax withholding obligations from RSU vesting.