Itron partners with Watercare Services to upgrade 100,000 water meters, enhancing Auckland's water management and infrastructure resilience.
Quiver AI Summary
Itron, Inc. has announced a partnership with Watercare Services, New Zealand's largest water utility, to enhance its water network by replacing existing mechanical meters with 100,000 digital Intelis wSource meters. This initiative is part of Watercare’s broader plan to deploy nearly half a million smart meters across Auckland, marking one of the largest smart water metering upgrades in the country. The new meters will improve network visibility, accelerate leak detection, and enhance billing accuracy, supporting Watercare's goal of modernizing its infrastructure and optimizing data usage for asset management and customer service. Featuring advanced sensors and built to function with minimal maintenance for 15 years in challenging conditions, these digital meters will help improve operational efficiency and sustainability while reducing real water losses. This development aligns with New Zealand's 2025 Water Services standards and aims to bolster the utility's infrastructure resilience.
Potential Positives
- Itron is partnering with Watercare Services, New Zealand's largest water utility, to upgrade its water network with 100,000 advanced digital water meters, marking a significant deployment that enhances their service capabilities.
- This project represents one of the largest smart water metering upgrades in New Zealand, demonstrating Itron's leadership in the innovative technologies for water management.
- The Intelis wSource meters will improve operational efficiency, enhance leak detection, and provide accurate billing, underlining Itron's commitment to transforming resource management.
- The deployment supports New Zealand's 2025 Water Services standards, positioning Itron as a key player in global water conservation and sustainability efforts.
Potential Negatives
- None
FAQ
What is the partnership between Itron and Watercare Services about?
Itron is providing 100,000 Intelis wSource digital water meters to modernize Watercare Services' water network in Auckland.
How will the new digital water meters improve services?
The Intelis wSource meters enhance leak detection, improve billing accuracy, and provide valuable data insights for better operations.
What technology does Itron’s Intelis wSource meter use?
The Intelis wSource meters utilize a Narrowband IoT (NB-IoT) network for accurate and frequent consumption data delivery.
How long are the Intelis wSource meters expected to last?
These meters are designed to operate for 15 years with minimal maintenance, even in harsh marine environments.
What are the goals of Watercare's modernization project?
The project aims to reduce real water losses, enhance infrastructure resiliency, and support New Zealand's 2025 Water Services standards.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ITRI Insider Trading Activity
$ITRI insiders have traded $ITRI stock on the open market 47 times in the past 6 months. Of those trades, 0 have been purchases and 47 have been sales.
Here’s a breakdown of recent trading of $ITRI stock by insiders over the last 6 months:
- THOMAS DEITRICH (President & CEO) has made 0 purchases and 5 sales selling 62,550 shares for an estimated $6,191,451.
- JOAN S HOOPER (SVP & CFO) has made 0 purchases and 6 sales selling 22,011 shares for an estimated $2,160,727.
- JOHN F. MARCOLINI (SVP, Networked Solutions) has made 0 purchases and 6 sales selling 20,571 shares for an estimated $1,846,773.
- DONALD L. III REEVES (SVP, Outcomes) has made 0 purchases and 10 sales selling 9,752 shares for an estimated $944,923.
- JUSTIN K PATRICK (SVP, Device Solutions) has made 0 purchases and 5 sales selling 6,565 shares for an estimated $644,786.
- CHRISTOPHER E. WARE (SVP, GC & Corp. Secretary) has made 0 purchases and 5 sales selling 5,981 shares for an estimated $587,447.
- LAURIE ANN PULATIE-HAHN (SVP, HR) has made 0 purchases and 6 sales selling 5,157 shares for an estimated $507,510.
- DAVID MARSHALL WRIGHT (VP, Corp. Controller & CAO) has made 0 purchases and 4 sales selling 583 shares for an estimated $55,049.
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$ITRI Revenue
$ITRI had revenues of $587M in Q1 2026. This is a decrease of -3.32% from the same period in the prior year.
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$ITRI Hedge Fund Activity
We have seen 224 institutional investors add shares of $ITRI stock to their portfolio, and 254 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MACQUARIE GROUP LTD removed 764,826 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $71,021,742
- JPMORGAN CHASE & CO removed 553,146 shares (-81.9%) from their portfolio in Q4 2025, for an estimated $51,365,137
- ROBECO SCHWEIZ AG added 529,324 shares (+125.3%) to their portfolio in Q1 2026, for an estimated $47,443,310
- NOMURA ASSET MANAGEMENT INTERNATIONAL INC. removed 475,181 shares (-87.7%) from their portfolio in Q1 2026, for an estimated $42,590,473
- SOROS FUND MANAGEMENT LLC added 402,116 shares (+107.2%) to their portfolio in Q1 2026, for an estimated $36,041,657
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$ITRI Analyst Ratings
Wall Street analysts have issued reports on $ITRI in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Baird issued a "Outperform" rating on 02/18/2026
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$ITRI Price Targets
Multiple analysts have issued price targets for $ITRI recently. We have seen 7 analysts offer price targets for $ITRI in the last 6 months, with a median target of $130.0.
Here are some recent targets:
- Tommy Moll from Stephens & Co. set a target price of $130.0 on 05/20/2026
- Jeff Osborne from TD Cowen set a target price of $130.0 on 04/29/2026
- Noah Kaye from Oppenheimer set a target price of $135.0 on 04/16/2026
- Mark Strouse from JP Morgan set a target price of $113.0 on 04/16/2026
- Sean Milligan from Needham set a target price of $124.0 on 03/06/2026
- Ben Kallo from Baird set a target price of $128.0 on 02/18/2026
- Martin Malloy from Johnson Rice set a target price of $130.0 on 01/05/2026
Full Release
LIBERTY LAKE, Wash., June 15, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, is working together with Watercare Services , New Zealand’s largest water and wastewater utility, to modernize their water network by upgrading its existing mechanical meters with 100,000 Itron Intelis wSource digital water meters, as part of Watercare’s plan to connect almost half a million smart meters in total across the Auckland region. This deployment represents one of the largest smart water metering upgrades in New Zealand and will give Watercare Services greater visibility into its network to accelerate leak detection and improve billing accuracy.
This digital transformation project supports Watercare’s broader technology programme to modernize Auckland’s water network and improve how data is used to manage assets, customer use and leak detection. With the integration of advanced sensors and analytics, Itron’s solution positions Watercare to meet the evolving needs of its customers while improving resiliency.
Itron’s Intelis wSource meters use an NB-IoT network to deliver frequent and highly accurate consumption data. Built to operate for 15 years with minimal maintenance, even in Auckland’s harsh marine environment, the meter provides reliable data transmission and long-lasting durability. Together, these capabilities will help improve operations, lower costs and create a more sustainable network.
“We continue to identify new ways to conserve and protect the world’s most vital water resources. In support of New Zealand’s 2025 Water Services (Wastewater Environmental Performance Standards) , our goal is to enable utilities, such as Watercare Services, to reduce real water losses across their network,” said Justin Patrick, senior vice president of Device Solutions at Itron. “The Intelis wSource water meter will eliminate manual meter reads, support efficient operations, provide infrastructure insights and strengthen the utility’s future infrastructure resiliency.”
About Itron
Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world:
www.itron.com
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Itron ® , the Itron Logo, and Intelis are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
For additional information, contact:
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
[email protected]
Paul Vincent
Vice President, Investor Relations
512-560-1172
[email protected]
Itron, Inc.
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