Ituran Location and Control Ltd. $ITRN Position Raised by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments increased its stake in Ituran Location and Control by 3.8% in the first quarter, adding 33,000 shares to bring its total to 891,274 shares. The holding is valued at about $43.7 million and makes up 1.7% of the firm’s portfolio.
• Ituran reported better-than-expected quarterly results, posting earnings of $0.85 per share versus $0.80 expected and revenue of $102.67 million versus $95.32 million expected. Analysts currently see full-year earnings of about $3.50 per share.
• The company paid a quarterly dividend of $0.50 per share, equal to an annualized yield of 3.6%, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $60.67.

Y.D. More Investments Ltd grew its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 891,274 shares of the industrial products company's stock after acquiring an additional 33,000 shares during the quarter. Ituran Location and Control comprises about 1.7% of Y.D. More Investments Ltd's investment portfolio, making the stock its 13th largest holding. Y.D. More Investments Ltd owned about 4.48% of Ituran Location and Control worth $43,681,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position in Ituran Location and Control by 257.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Global Retirement Partners LLC increased its position in Ituran Location and Control by 50.1% in the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 219 shares during the period. Advisory Services Network LLC bought a new stake in Ituran Location and Control during the 3rd quarter valued at $28,000. Jones Financial Companies Lllp raised its stake in Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 939 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in Ituran Location and Control during the 3rd quarter worth $53,000. Institutional investors own 94.80% of the company's stock.

Ituran Location and Control Stock Performance

Shares of NASDAQ ITRN opened at $56.00 on Monday. Ituran Location and Control Ltd. has a 1 year low of $32.71 and a 1 year high of $68.30. The firm has a market cap of $1.11 billion, a P/E ratio of 18.48 and a beta of 0.77. The stock has a fifty day moving average price of $61.27 and a two-hundred day moving average price of $52.89.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The business had revenue of $102.67 million during the quarter, compared to analyst estimates of $95.32 million. Ituran Location and Control had a return on equity of 27.70% and a net margin of 16.03%. On average, research analysts predict that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current fiscal year.

Ituran Location and Control Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 24th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.6%. Ituran Location and Control's dividend payout ratio (DPR) is 66.01%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group reissued a "buy" rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Wall Street Zen raised shares of Ituran Location and Control from a "buy" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Finally, Zacks Research raised shares of Ituran Location and Control to a "hold" rating in a research note on Thursday, May 28th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ituran Location and Control has an average rating of "Moderate Buy" and an average target price 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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