Virtu Financial LLC Buys Shares of 11,513 Ituran Location and Control Ltd. $ITRN

Key Points

• Virtu Financial LLC has acquired a new stake in Ituran Location and Control Ltd., buying 11,513 shares valued at approximately $416,000, now holding 0.06% of the company.
• Multiple institutional investors have also increased their stakes in Ituran, with 94.80% of the stock currently held by institutional investors and hedge funds.
• Ituran recently cut its quarterly dividend to $0.50 per share, which represents a 4.9% dividend yield and a payout ratio of 71.94%.

Virtu Financial LLC purchased a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,513 shares of the industrial products company's stock, valued at approximately $416,000. Virtu Financial LLC owned approximately 0.06% of Ituran Location and Control at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC acquired a new stake in Ituran Location and Control in the 1st quarter valued at about $40,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Ituran Location and Control in the 1st quarter valued at about $54,000. Point72 Asset Management L.P. acquired a new stake in Ituran Location and Control in the 4th quarter valued at about $178,000. Balyasny Asset Management L.P. acquired a new stake in Ituran Location and Control in the 4th quarter valued at about $223,000. Finally, GeoWealth Management LLC raised its position in Ituran Location and Control by 7,556.8% in the 4th quarter. GeoWealth Management LLC now owns 7,274 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 7,179 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Ituran Location and Control presently has a consensus rating of "Buy" and a consensus price target of $50.00.

Ituran Location and Control Stock Down 5.7%

ITRN traded down $2.30 during trading on Tuesday, hitting $37.98. 120,326 shares of the stock were exchanged, compared to its average volume of 130,832. The firm has a market capitalization of $755.42 million, a P/E ratio of 13.60 and a beta of 0.89. Ituran Location and Control Ltd. has a 1-year low of $25.86 and a 1-year high of $45.43. The stock has a fifty day moving average price of $38.93 and a two-hundred day moving average price of $37.37.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). The firm had revenue of $86.79 million for the quarter, compared to analyst estimates of $89.17 million. Ituran Location and Control had a return on equity of 29.19% and a net margin of 16.35%.

Ituran Location and Control Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, September 25th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.3%. Ituran Location and Control's dividend payout ratio (DPR) is 71.94%.

Ituran Location and Control Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.