LMG Wealth Partners LLC Acquires New Holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN)

LMG Wealth Partners LLC purchased a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 31,687 shares of the industrial products company's stock, valued at approximately $1,146,000. LMG Wealth Partners LLC owned about 0.16% of Ituran Location and Control as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ITRN. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Ituran Location and Control during the 1st quarter worth approximately $54,000. Point72 Asset Management L.P. acquired a new position in shares of Ituran Location and Control during the 4th quarter worth approximately $178,000. Atria Investments Inc acquired a new position in shares of Ituran Location and Control during the 4th quarter worth approximately $209,000. D.A. Davidson & CO. acquired a new position in shares of Ituran Location and Control during the 1st quarter worth approximately $251,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Ituran Location and Control during the 4th quarter worth approximately $223,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered 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 Stock Performance

Shares of Ituran Location and Control stock traded down $0.04 on Friday, reaching $38.86. 46,826 shares of the stock were exchanged, compared to its average volume of 108,265. The firm's 50 day moving average is $37.75 and its 200-day moving average is $36.19. Ituran Location and Control Ltd. has a one year low of $25.09 and a one year high of $45.43. The firm has a market cap of $772.93 million, a PE ratio of 13.98 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $86.46 million during the quarter, compared to the consensus estimate of $88.47 million.

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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend was Wednesday, June 18th. Ituran Location and Control's payout ratio is 71.94%.

Ituran Location and Control 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.