Ituran Location and Control Ltd. (NASDAQ:ITRN) Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Ituran Location and Control by 47.2%, acquiring an additional 11,000 shares, bringing its total holdings to 34,300 shares valued at approximately $1.25 million.
• Ituran Location and Control reported earnings of $0.73 per share for the recent quarter, exceeding analysts' expectations of $0.70, with a total revenue of $86.46 million.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized rate of $2.00 and a yield of 4.91%.

KLP Kapitalforvaltning AS increased its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 47.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,300 shares of the industrial products company's stock after buying an additional 11,000 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.17% of Ituran Location and Control worth $1,253,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in shares of Ituran Location and Control by 26.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock valued at $8,553,000 after buying an additional 56,956 shares during the period. Aristides Capital LLC grew its stake in shares of Ituran Location and Control by 26.5% in the fourth quarter. Aristides Capital LLC now owns 233,190 shares of the industrial products company's stock valued at $7,264,000 after buying an additional 48,850 shares in the last quarter. Millennium Management LLC grew its stake in shares of Ituran Location and Control by 8.8% in the fourth quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock valued at $7,119,000 after buying an additional 18,563 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Ituran Location and Control in the fourth quarter valued at $2,718,000. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Ituran Location and Control by 1.3% in the first quarter. Segall Bryant & Hamill LLC now owns 76,000 shares of the industrial products company's stock valued at $2,748,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analysts Set New Price Targets

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

Ituran Location and Control Stock Performance

Shares of NASDAQ ITRN traded down $0.20 during trading on Monday, reaching $40.50. The stock had a trading volume of 95,577 shares, compared to its average volume of 77,276. Ituran Location and Control Ltd. has a fifty-two week low of $25.09 and a fifty-two week high of $45.43. The business's 50-day moving average price is $37.99 and its 200-day moving average price is $36.51. The company has a market cap of $805.55 million, a P/E ratio of 14.57 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. The firm had revenue of $86.46 million during the quarter, compared to analyst estimates of $88.47 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 business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a yield of 4.94%. Ituran Location and Control's dividend payout ratio (DPR) is presently 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.