Ituran Location and Control Ltd. (NASDAQ:ITRN) Position Boosted by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Ituran Location and Control Ltd. by 26.5%, acquiring an additional 9,734 shares, bringing its total holdings to 46,441 shares.
• Ituran Location and Control reported earnings of $0.73 per share for the quarter, which exceeds the consensus estimate of $0.70, and generated $86.46 million in revenue.
• The company's recent quarterly dividend was $0.50 per share, resulting in an annualized dividend yield of 5.00% with a dividend payout ratio of 71.94%.

Allianz Asset Management GmbH lifted its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,441 shares of the industrial products company's stock after buying an additional 9,734 shares during the quarter. Allianz Asset Management GmbH owned 0.23% of Ituran Location and Control worth $1,679,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LMG Wealth Partners LLC acquired a new stake in Ituran Location and Control in the first quarter valued at $1,146,000. Segall Bryant & Hamill LLC increased its position in shares of Ituran Location and Control by 1.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 76,000 shares of the industrial products company's stock worth $2,748,000 after purchasing an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Ituran Location and Control in the 1st quarter worth about $54,000. Trek Financial LLC acquired a new stake in shares of Ituran Location and Control in the 1st quarter valued at about $289,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Ituran Location and Control by 294.7% during the first quarter. Envestnet Asset Management Inc. now owns 43,010 shares of the industrial products company's stock worth $1,555,000 after purchasing an additional 32,113 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Trading Down 2.0%

Ituran Location and Control stock traded down $0.79 during mid-day trading on Friday, reaching $38.71. The company's stock had a trading volume of 63,690 shares, compared to its average volume of 75,992. Ituran Location and Control Ltd. has a twelve month low of $25.09 and a twelve month high of $45.43. The business has a 50 day moving average price of $38.22 and a 200-day moving average price of $36.74. The firm has a market cap of $769.94 million, a price-to-earnings ratio of 13.92 and a beta of 0.89.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%. The business had revenue of $86.46 million during the quarter, compared to analyst estimates of $88.47 million.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, June 18th. Ituran Location and Control's dividend payout ratio is 71.94%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th.

Ituran Location and Control Company 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.