Vulcan Value Partners LLC Has $27.92 Million Stake in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Key Points

• Vulcan Value Partners LLC reduced its stake in Ituran Location and Control by 25.9%, selling 266,984 shares during the first quarter, leaving them with a total of 764,017 shares.
• Ituran recently announced a quarterly dividend of $0.50 per share, demonstrating an annualized yield of 5.2% with a payout ratio of approximately 71.94%.
• Wall Street analysts have revised Ituran's rating from a "strong-buy" to a "buy", reflecting a shift in growth expectations for the company.

Vulcan Value Partners LLC cut its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 25.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 764,017 shares of the industrial products company's stock after selling 266,984 shares during the quarter. Ituran Location and Control accounts for 0.5% of Vulcan Value Partners LLC's holdings, making the stock its 29th biggest position. Vulcan Value Partners LLC owned 3.84% of Ituran Location and Control worth $27,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ITRN. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Ituran Location and Control in the 1st quarter valued at approximately $54,000. Point72 Asset Management L.P. acquired a new stake in shares of Ituran Location and Control in the 4th quarter valued at approximately $178,000. D.A. Davidson & CO. acquired a new stake in shares of Ituran Location and Control in the 1st quarter valued at approximately $251,000. Balyasny Asset Management L.P. acquired a new stake in shares of Ituran Location and Control in the 4th quarter valued at approximately $223,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Ituran Location and Control in the 1st quarter valued at approximately $262,000. 94.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th.

Ituran Location and Control Stock Up 2.2%

Shares of Ituran Location and Control stock traded up $0.87 during trading on Monday, reaching $39.58. The company's stock had a trading volume of 20,648 shares, compared to its average volume of 133,949. The business's 50-day moving average price is $38.22 and its 200-day moving average price is $36.76. The firm has a market cap of $787.15 million, a PE ratio of 14.24 and a beta of 0.89. Ituran Location and Control Ltd. has a 52 week low of $25.09 and a 52 week high of $45.43.

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 EPS for the quarter, topping 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 company had revenue of $86.46 million for the quarter, compared to analysts' expectations of $88.47 million.

Ituran Location and Control Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, June 18th. Ituran Location and Control's dividend payout ratio (DPR) is presently 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.