8,605 Shares in Ituran Location and Control Ltd. (NASDAQ:ITRN) Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,605 shares of the industrial products company’s stock, valued at approximately $311,000.

Several other institutional investors have also recently made changes to their positions in ITRN. Raymond James Financial Inc. purchased a new stake in shares of Ituran Location and Control during the fourth quarter worth about $2,718,000. Alliancebernstein L.P. purchased a new stake in shares of Ituran Location and Control during the fourth quarter worth about $2,329,000. Arrowstreet Capital Limited Partnership grew its position in shares of Ituran Location and Control by 26.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company’s stock worth $8,553,000 after purchasing an additional 56,956 shares in the last quarter. Aristides Capital LLC grew its holdings in Ituran Location and Control by 26.5% during the 4th quarter. Aristides Capital LLC now owns 233,190 shares of the industrial products company’s stock valued at $7,264,000 after buying an additional 48,850 shares in the last quarter. Finally, Seizert Capital Partners LLC grew its holdings in Ituran Location and Control by 32.3% during the 4th quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company’s stock valued at $4,928,000 after buying an additional 38,652 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ITRN shares. Barclays raised their price target on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Wall Street Zen cut Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a report on Friday, May 30th.

Ituran Location and Control Price Performance

NASDAQ ITRN opened at $35.59 on Friday. The stock has a market capitalization of $708.03 million, a PE ratio of 12.80 and a beta of 0.82. The business has a 50 day simple moving average of $36.09 and a two-hundred day simple moving average of $35.01. Ituran Location and Control Ltd. has a 1-year low of $24.12 and a 1-year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $86.46 million during the quarter, compared to analysts’ expectations 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date of this dividend is Wednesday, June 18th. Ituran Location and Control’s dividend payout ratio (DPR) is 71.94%.

About Ituran Location and Control

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.