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

Vulcan Value Partners LLC lessened its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 25.9% in the 1st quarter, according to its most recent 13F 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 period. Ituran Location and Control accounts for 0.5% of Vulcan Value Partners LLC’s portfolio, making the stock its 29th largest holding. Vulcan Value Partners LLC owned about 3.84% of Ituran Location and Control worth $27,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Ituran Location and Control during the first quarter worth approximately $54,000. Point72 Asset Management L.P. bought a new position in Ituran Location and Control in the fourth quarter valued at approximately $178,000. D.A. Davidson & CO. acquired a new stake in Ituran Location and Control during the 1st quarter worth $251,000. Balyasny Asset Management L.P. bought a new stake in shares of Ituran Location and Control during the 4th quarter valued at $223,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Ituran Location and Control during the 1st quarter valued at $262,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Trading Down 1.3%

Shares of ITRN opened at $39.50 on Friday. The stock has a market cap of $785.66 million, a P/E ratio of 14.21 and a beta of 0.82. Ituran Location and Control Ltd. has a 1 year low of $25.09 and a 1 year high of $45.43. The stock’s 50-day moving average price is $38.19 and its two-hundred day moving average price is $36.67.

Ituran Location and Control (NASDAQ:ITRN) last announced 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. The business had revenue of $86.46 million for the quarter, compared to the consensus estimate of $88.47 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%.

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 issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.1%. Ituran Location and Control’s payout ratio is 71.94%.

Analysts Set New Price Targets

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.

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.