Nuveen LLC Acquires New Position in Ituran Location and Control Ltd. $ITRN

Nuveen LLC acquired a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,445 shares of the industrial products company’s stock, valued at approximately $558,000. Nuveen LLC owned about 0.08% of Ituran Location and Control at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Ibex Investors LLC increased its stake in Ituran Location and Control by 1.8% in the first quarter. Ibex Investors LLC now owns 876,313 shares of the industrial products company’s stock valued at $31,687,000 after acquiring an additional 15,267 shares during the last quarter. Millennium Management LLC lifted its stake in Ituran Location and Control by 8.8% in the 4th quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company’s stock valued at $7,119,000 after purchasing an additional 18,563 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Ituran Location and Control by 1.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 76,000 shares of the industrial products company’s stock valued at $2,748,000 after purchasing an additional 1,000 shares during the last quarter. ARK Investment Management LLC bought a new position in Ituran Location and Control in the 1st quarter valued at approximately $2,131,000. Finally, Four Tree Island Advisory LLC lifted its stake in Ituran Location and Control by 93.7% in the 1st quarter. Four Tree Island Advisory LLC now owns 57,198 shares of the industrial products company’s stock valued at $2,068,000 after purchasing an additional 27,665 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $50.00.

Ituran Location and Control Stock Performance

ITRN stock opened at $32.80 on Thursday. The company has a fifty day moving average price of $38.75 and a 200-day moving average price of $37.42. The company has a market capitalization of $652.39 million, a P/E ratio of 11.76 and a beta of 0.87. Ituran Location and Control Ltd. has a 52-week low of $25.86 and a 52-week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). The business had revenue of $86.79 million for the quarter, compared to the consensus estimate of $89.17 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, September 25th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.00 annualized dividend and a dividend yield of 6.1%. Ituran Location and Control’s dividend payout ratio (DPR) is presently 71.68%.

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.