LMG Wealth Partners LLC Buys 3,275 Shares of Ituran Location and Control Ltd. $ITRN

LMG Wealth Partners LLC increased its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,962 shares of the industrial products company’s stock after purchasing an additional 3,275 shares during the period. LMG Wealth Partners LLC owned approximately 0.18% of Ituran Location and Control worth $1,354,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new position in Ituran Location and Control in the first quarter worth about $40,000. Jones Financial Companies Lllp increased its holdings in shares of Ituran Location and Control by 327.2% during the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after buying an additional 939 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Ituran Location and Control by 148.9% during the second quarter. AdvisorNet Financial Inc now owns 1,120 shares of the industrial products company’s stock worth $43,000 after buying an additional 670 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Ituran Location and Control during the first quarter worth approximately $54,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Ituran Location and Control during the second quarter worth approximately $113,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ITRN shares. Wall Street Zen raised shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ituran Location and Control in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Ituran Location and Control has a consensus rating of “Buy” and a consensus price target of $50.00.

Ituran Location and Control Stock Down 1.7%

Shares of NASDAQ ITRN opened at $37.05 on Monday. The company’s fifty day moving average is $36.23 and its 200-day moving average is $36.75. The stock has a market cap of $737.06 million, a price-to-earnings ratio of 13.28 and a beta of 0.87. Ituran Location and Control Ltd. has a twelve month low of $26.46 and a twelve month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Tuesday, August 19th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). The company had revenue of $86.79 million during 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 was paid on Friday, October 10th. Shareholders of record on Thursday, September 25th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.4%. The ex-dividend date was Thursday, September 25th. Ituran Location and Control’s payout ratio 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.