Y.D. More Investments Ltd Has $28.81 Million Stake in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Key Points

• Y.D. More Investments Ltd reduced its stake in Ituran Location and Control Ltd. by 14.3% during the first quarter, now holding 796,606 shares worth approximately $28.8 million.
• Ituran reported $0.73 earnings per share for the most recent quarter, exceeding analysts' expectations, though revenue fell short at $86.46 million against a forecast of $88.47 million.
• The company declared a quarterly dividend of $0.50 per share, yielding 4.8%, with a payout ratio of approximately 71.94%.

Y.D. More Investments Ltd cut its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 796,606 shares of the industrial products company's stock after selling 132,577 shares during the quarter. Ituran Location and Control makes up 2.5% of Y.D. More Investments Ltd's portfolio, making the stock its 10th largest holding. Y.D. More Investments Ltd owned about 4.00% of Ituran Location and Control worth $28,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ITRN. California State Teachers Retirement System increased its position in Ituran Location and Control by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 15,161 shares of the industrial products company's stock worth $472,000 after buying an additional 532 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Ituran Location and Control by 1.3% during the first 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 period. Costello Asset Management INC bought a new position in Ituran Location and Control during the first quarter worth about $40,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Ituran Location and Control during the first quarter worth approximately $54,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ituran Location and Control by 7.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,629 shares of the industrial products company's stock valued at $923,000 after purchasing an additional 2,075 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Ituran Location and Control Price Performance

ITRN stock traded down $0.93 during midday trading on Monday, hitting $41.26. The company's stock had a trading volume of 32,631 shares, compared to its average volume of 132,443. Ituran Location and Control Ltd. has a twelve month low of $25.83 and a twelve month high of $45.43. The company's fifty day moving average price is $38.53 and its 200 day moving average price is $37.03. The stock has a market capitalization of $820.83 million, a P/E ratio of 14.84 and a beta of 0.89.

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

Ituran Location and Control Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Wednesday, June 18th. Ituran Location and Control's dividend payout ratio is currently 71.94%.

About Ituran Location and Control

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.