Public Employees Retirement System of Ohio Lowers Stock Holdings in Ituran Location and Control Ltd. $ITRN

Public Employees Retirement System of Ohio lowered its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 16.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,544 shares of the industrial products company’s stock after selling 1,300 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ituran Location and Control were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Costello Asset Management INC acquired a new position in Ituran Location and Control in the first quarter valued at $40,000. AdvisorNet Financial Inc boosted its holdings in Ituran Location and Control by 148.9% in the second quarter. AdvisorNet Financial Inc now owns 1,120 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 670 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Ituran Location and Control by 327.2% in the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 939 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Ituran Location and Control in the first quarter valued at $54,000. Finally, American Century Companies Inc. acquired a new position in Ituran Location and Control in the first quarter valued at $209,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ITRN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ituran Location and Control in a report on Saturday, September 27th. Wall Street Zen upgraded Ituran Location and Control from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ituran Location and Control has a consensus rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Price Performance

Shares of ITRN opened at $36.35 on Tuesday. The stock’s 50-day moving average is $36.92 and its two-hundred day moving average is $36.76. The stock has a market cap of $714.38 million, a PE ratio of 13.03 and a beta of 0.87. Ituran Location and Control Ltd. has a 12 month low of $26.16 and a 12 month high of $45.43.

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

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, September 25th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, September 25th. Ituran Location and Control’s payout ratio is presently 71.68%.

Ituran Location and Control 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.