Vulcan Value Partners LLC lowered its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 764,017 shares of the industrial products company's stock after selling 266,984 shares during the period. Ituran Location and Control makes up 0.5% of Vulcan Value Partners LLC's investment portfolio, making the stock its 29th largest position. Vulcan Value Partners LLC owned about 3.84% of Ituran Location and Control worth $27,919,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of ITRN. Thrivent Financial for Lutherans purchased a new position in shares of Ituran Location and Control during the 4th quarter valued at about $229,000. Arrowstreet Capital Limited Partnership raised its holdings 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 in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Ituran Location and Control during the 4th quarter valued at about $2,329,000. Envestnet Asset Management Inc. raised its holdings in shares of Ituran Location and Control by 38.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 10,897 shares of the industrial products company's stock valued at $339,000 after buying an additional 3,053 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Ituran Location and Control by 49.4% during the 4th quarter. Russell Investments Group Ltd. now owns 62,863 shares of the industrial products company's stock valued at $1,958,000 after buying an additional 20,776 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th.
Check Out Our Latest Report on Ituran Location and Control
Ituran Location and Control Stock Performance
ITRN traded down $0.79 on Friday, hitting $38.71. 63,690 shares of the company were exchanged, compared to its average volume of 75,992. The stock has a market capitalization of $770.10 million, a PE ratio of 13.92 and a beta of 0.82. Ituran Location and Control Ltd. has a 12 month low of $25.09 and a 12 month high of $45.43. The firm has a fifty day simple moving average of $38.22 and a two-hundred day simple moving average of $36.71.
Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $86.46 million for 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Wednesday, June 18th. Ituran Location and Control's dividend payout ratio (DPR) is currently 71.94%.
About Ituran Location and Control
(
Free Report)
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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