Ituran Location and Control Ltd. $ITRN Position Boosted by Navellier & Associates Inc.

Key Points

• Navellier & Associates increased its Ituran Location and Control stake by 286.6% in the second quarter, acquiring 37,849 additional shares and bringing its holdings to 51,056 shares worth approximately $3.1 million. Institutional investors collectively own 94.8% of the company.
• Ituran reported quarterly earnings of $0.88 per share, slightly exceeding estimates, while revenue of $104.79 million surpassed expectations. The company also declared a quarterly dividend of $0.50, representing a 3.9% yield.
• Shares opened at $50.78, down 2.2%, below the 50- and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $60.67.

Navellier & Associates Inc. lifted its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 286.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,056 shares of the industrial products company's stock after purchasing an additional 37,849 shares during the period. Navellier & Associates Inc. owned about 0.26% of Ituran Location and Control worth $3,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in Ituran Location and Control during the second quarter worth approximately $787,000. Hennion & Walsh Asset Management Inc. grew its position in Ituran Location and Control by 39.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 40,845 shares of the industrial products company's stock worth $2,492,000 after buying an additional 11,560 shares during the last quarter. Baron Wealth Management LLC bought a new position in shares of Ituran Location and Control in the second quarter valued at $221,000. Segall Bryant & Hamill LLC increased its holdings in shares of Ituran Location and Control by 3.9% in the first quarter. Segall Bryant & Hamill LLC now owns 58,100 shares of the industrial products company's stock valued at $2,847,000 after buying an additional 2,200 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Ituran Location and Control by 10.3% during the 1st quarter. Lazard Asset Management LLC now owns 111,710 shares of the industrial products company's stock valued at $5,475,000 after acquiring an additional 10,464 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors.

Ituran Location and Control Stock Down 2.2%

Shares of NASDAQ:ITRN opened at $50.78 on Friday. The company's fifty day moving average is $55.58 and its two-hundred day moving average is $55.22. Ituran Location and Control Ltd. has a 12-month low of $32.71 and a 12-month high of $68.30. The company has a market cap of $1.01 billion, a P/E ratio of 15.67 and a beta of 0.79.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last issued its earnings results on Wednesday, August 12th. The industrial products company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%.The business had revenue of $104.79 million during the quarter, compared to analysts' expectations of $99.84 million. Equities research analysts anticipate that Ituran Location and Control Ltd. will post 3.54 earnings per share for the current year.

Ituran Location and Control Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 29th. Ituran Location and Control's dividend payout ratio is currently 61.73%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITRN. Weiss Ratings lowered Ituran Location and Control from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. UBS Group reaffirmed a "buy" rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Zacks Research upgraded Ituran Location and Control to a "hold" rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised Ituran Location and Control from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.67.

Ituran Location and Control Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.

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