Trek Financial LLC Invests $289,000 in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Trek Financial LLC acquired a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,992 shares of the industrial products company's stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of Ituran Location and Control by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 15,161 shares of the industrial products company's stock worth $472,000 after acquiring an additional 532 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ituran Location and Control by 7.5% during 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 buying an additional 2,075 shares during the period. XTX Topco Ltd boosted its stake in Ituran Location and Control by 10.5% during the fourth quarter. XTX Topco Ltd now owns 22,256 shares of the industrial products company's stock valued at $693,000 after buying an additional 2,106 shares during the period. HighTower Advisors LLC boosted its stake in Ituran Location and Control by 7.8% during the fourth quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company's stock valued at $968,000 after buying an additional 2,249 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in Ituran Location and Control by 18.0% during the first quarter. CWA Asset Management Group LLC now owns 14,990 shares of the industrial products company's stock valued at $542,000 after buying an additional 2,282 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered 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 Up 1.9%

NASDAQ:ITRN traded up $0.76 during trading hours on Thursday, hitting $40.06. 124,636 shares of the company's stock traded hands, compared to its average volume of 108,005. The business's fifty day simple moving average is $37.35 and its two-hundred day simple moving average is $35.81. Ituran Location and Control Ltd. has a 52 week low of $24.28 and a 52 week high of $45.43. The firm has a market cap of $796.79 million, a P/E ratio of 14.41 and a beta of 0.82.

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

Ituran Location and Control Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a yield of 4.99%. Ituran Location and Control's payout ratio is 71.94%.

Ituran Location and Control Company 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.