Portman Square Capital 13F: New $847K Stake in Itron (ITRI)

Portman Square Capital has opened a new position in Itron, Inc. (NasdaqGS: ITRI), acquiring 9,813 shares valued at approximately $847,254, as disclosed in a filing on October 15, 2026.

Itron's new stake comes as the company's stock has faced challenges, trading recently at around $82.95, which is about 11.6% below its 50-day moving average of $93.80. The stock is also about 41.6% off its 52-week high of $142.00, indicating a tough market for the company. Itron operates in the technology sector, providing solutions for energy and water management, among other services.

Other Institutional Activity in Itron

Several large investors have adjusted their positions in Itron during the same reporting period. Blackrock Inc. reduced its holdings by 17,874 shares, bringing its total to about 7.1 million shares worth roughly $592.2 million. Vanguard Portfolio Management LLC also trimmed its stake, selling 8,767 shares to hold approximately 3.5 million shares valued at about $290.5 million. Vanguard Capital Management LLC decreased its holdings by 14,099 shares, ending up with 2 million shares worth roughly $166.1 million. Impax Asset Management Group plc sold off 266,249 shares, reducing its holdings to about 1.9 million shares valued at around $160 million. State Street Corporation slightly increased its stake, adding 4,514 shares for a total of about 1.8 million shares worth approximately $150.3 million.

Itron, Inc. Stock Down 2.1%

Currently, Itron trades at $82.95 as of October 16, 2026, which is below its recent 50-day and 200-day moving averages. This may suggest it is facing price pressure in a challenging environment. The stock is also 6.7% above its 52-week low of $77.77, providing a slight cushion amid broader market difficulties.

Recent Earnings

Itron reported trailing twelve-month revenue of approximately $2.3 billion, with a net margin of 11.9% and a return on equity of 16.9%. The company is expected to announce its next earnings report on October 27, 2026.

Insider Buying and Selling at Itron, Inc.

In recent insider activity, General Counsel Christopher E. Ware and other officers sold shares totaling about 10,671 shares in late August and early September 2026 for prices around $98.79 to $99.99 each. These transactions may reflect broader management strategies and market positioning but do not imply bearish sentiment.

Analysts Set New Price Targets

On July 29, 2026, Needham maintained a "Buy" rating on Itron with a target price of $128. This comes as part of a consensus among analysts, who suggest a positive outlook with a mean price target of $129.56 based on nine analyst opinions.

About Itron

Itron, Inc. is a technology and services company based in Liberty Lake, WA, specializing in solutions for managing energy, water, and smart city operations. It operates through various segments, providing hardware and software solutions that help utilities optimize resource use worldwide. This new position by Portman Square Capital highlights continued interest in the company's potential for recovery and growth in a competitive market.

Bottom Line

Looking ahead, investors should monitor Itron's upcoming earnings report on October 27, 2026, and any further institutional filings. Keep in mind that this filing reflects holdings as of the end of the reporting quarter and may not represent Portman Square Capital's current position. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.