Nuveen LLC Purchases Shares of 15,445 Ituran Location and Control Ltd. $ITRN

Key Points

• Nuveen LLC has acquired a new stake in Ituran Location and Control Ltd., purchasing 15,445 shares valued at approximately $558,000.
• Despite the new acquisition, Wall Street Zen downgraded Ituran's stock rating from "buy" to "hold" as of August 22nd.
• Ituran Location and Control has announced a quarterly dividend of $0.50 per share, which represents a 6.1% yield and will be paid on October 10th.

Nuveen LLC bought a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 15,445 shares of the industrial products company's stock, valued at approximately $558,000. Nuveen LLC owned approximately 0.08% of Ituran Location and Control at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ITRN. Teacher Retirement System of Texas acquired a new position in shares of Ituran Location and Control during the first quarter worth about $262,000. Millennium Management LLC grew its position in shares of Ituran Location and Control by 8.8% during the fourth quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock worth $7,119,000 after buying an additional 18,563 shares in the last quarter. Foundations Investment Advisors LLC grew its position in shares of Ituran Location and Control by 130.7% during the first quarter. Foundations Investment Advisors LLC now owns 16,667 shares of the industrial products company's stock worth $603,000 after buying an additional 9,442 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Ituran Location and Control by 61.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 12,248 shares of the industrial products company's stock worth $382,000 after buying an additional 4,648 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Ituran Location and Control by 147.5% during the fourth quarter. Bank of America Corp DE now owns 8,707 shares of the industrial products company's stock worth $271,000 after buying an additional 5,189 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Ituran Location and Control from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $50.00.

Ituran Location and Control Stock Performance

NASDAQ:ITRN traded down $0.40 during trading hours on Tuesday, hitting $34.05. The company's stock had a trading volume of 20,362 shares, compared to its average volume of 136,341. The business's 50-day moving average is $38.51 and its two-hundred day moving average is $37.24. The company has a market capitalization of $677.39 million, a PE ratio of 12.20 and a beta of 0.87. Ituran Location and Control Ltd. has a 52-week low of $25.86 and a 52-week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its earnings results on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The firm had revenue of $86.79 million during the quarter, compared to analyst estimates of $89.17 million.

Ituran Location and Control Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Thursday, September 25th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.00 annualized dividend and a yield of 5.9%. Ituran Location and Control's payout ratio is presently 71.68%.

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.