Squarepoint Ops LLC Takes Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Squarepoint Ops LLC acquired a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,996 shares of the industrial products company's stock, valued at approximately $311,000. Squarepoint Ops LLC owned about 0.05% of Ituran Location and Control as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Ituran Location and Control during the 4th quarter valued at about $178,000. Man Group plc grew its holdings in Ituran Location and Control by 62.0% in the 4th quarter. Man Group plc now owns 16,606 shares of the industrial products company's stock valued at $517,000 after buying an additional 6,356 shares during the period. Millennium Management LLC grew its stake in shares of Ituran Location and Control by 8.8% during the 4th 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 during the period. Lazard Asset Management LLC grew its position in Ituran Location and Control by 31.6% during the fourth quarter. Lazard Asset Management LLC now owns 45,287 shares of the industrial products company's stock valued at $1,410,000 after acquiring an additional 10,866 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in 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 during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ITRN. Wall Street Zen downgraded Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Barclays lifted their price objective on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th.

Ituran Location and Control Stock Down 0.3%

ITRN opened at $37.64 on Friday. The stock has a fifty day moving average of $35.61 and a 200-day moving average of $34.60. The firm has a market capitalization of $748.81 million, a P/E ratio of 14.42 and a beta of 0.82. Ituran Location and Control Ltd. has a 12-month low of $24.12 and a 12-month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $86.46 million for the quarter, compared to the consensus estimate of $88.47 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Ituran Location and Control Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.31%. Ituran Location and Control's dividend payout ratio (DPR) is currently 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.

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