Vulcan Value Partners LLC Has $7.57 Million Position in Ituran Location and Control Ltd. $ITRN

Key Points

• Vulcan Value Partners cut its Ituran Location and Control stake by 74.9% in the second quarter, selling 369,812 shares and retaining 124,028 shares worth approximately $7.57 million. Institutional investors collectively own 94.8% of the company.
• Ituran reported quarterly EPS of $0.88, slightly beating estimates, while revenue of $104.79 million exceeded expectations. Analysts project $3.54 in full-year EPS, and the stock has a “Moderate Buy” consensus rating with a $60.67 average price target.
• The company declared a quarterly dividend of $0.50 per share, representing a $2.00 annualized payout and a 3.9% yield.

Vulcan Value Partners LLC cut its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 74.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,028 shares of the industrial products company's stock after selling 369,812 shares during the period. Vulcan Value Partners LLC owned 0.62% of Ituran Location and Control worth $7,567,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC increased its position in Ituran Location and Control by 50.1% in the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company's stock worth $28,000 after buying an additional 219 shares during the period. Values First Advisors Inc. grew its stake in shares of Ituran Location and Control by 2.1% in the first quarter. Values First Advisors Inc. now owns 11,217 shares of the industrial products company's stock worth $550,000 after acquiring an additional 234 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Ituran Location and Control by 14.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,548 shares of the industrial products company's stock worth $110,000 after acquiring an additional 327 shares during the last quarter. D.A. Davidson & CO. increased its position in Ituran Location and Control by 4.7% during the first quarter. D.A. Davidson & CO. now owns 7,399 shares of the industrial products company's stock worth $363,000 after acquiring an additional 330 shares during the period. Finally, Natixis Advisors LLC raised its stake in Ituran Location and Control by 2.8% during the 3rd quarter. Natixis Advisors LLC now owns 12,054 shares of the industrial products company's stock valued at $431,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 94.80% of the company's stock.

Ituran Location and Control Price Performance

Shares of ITRN traded up $0.05 during mid-day trading on Tuesday, reaching $51.79. The company had a trading volume of 81,856 shares, compared to its average volume of 130,120. The company's 50-day moving average is $54.24 and its 200-day moving average is $55.45. The company has a market capitalization of $1.03 billion, a P/E ratio of 15.98 and a beta of 0.78. Ituran Location and Control Ltd. has a twelve month low of $33.82 and a twelve month high of $68.30.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.01. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%.The company had revenue of $104.79 million during the quarter, compared to analysts' expectations of $99.84 million. As a group, equities analysts expect that Ituran Location and Control Ltd. will post 3.54 EPS for the current fiscal year.

Ituran Location and Control Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 3.9%. Ituran Location and Control's dividend payout ratio (DPR) is presently 61.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group reaffirmed a "buy" rating on shares of Ituran Location and Control in a research report on Wednesday, May 27th. Zacks Research raised Ituran Location and Control to a "hold" rating in a report on Thursday, May 28th. Weiss Ratings cut Ituran Location and Control from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, August 26th. Finally, Wall Street Zen raised Ituran Location and Control from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Ituran Location and Control currently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

Ituran Location and Control Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.

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