Acadian Asset Management LLC Grows Position in Ituran Location and Control Ltd. $ITRN

Acadian Asset Management LLC raised its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 18.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 726,519 shares of the industrial products company’s stock after acquiring an additional 113,594 shares during the period. Acadian Asset Management LLC owned approximately 3.65% of Ituran Location and Control worth $28,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITRN. Atria Investments Inc increased its position in Ituran Location and Control by 5.1% in the second quarter. Atria Investments Inc now owns 11,043 shares of the industrial products company’s stock worth $428,000 after purchasing an additional 532 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Ituran Location and Control by 148.9% in the 2nd 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. Magnetar Financial LLC grew its stake in shares of Ituran Location and Control by 6.0% in the 1st quarter. Magnetar Financial LLC now owns 13,055 shares of the industrial products company’s stock worth $472,000 after buying an additional 742 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Ituran Location and Control by 327.2% in the 1st 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 during the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of Ituran Location and Control during the 2nd quarter valued at about $37,000. 94.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITRN has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ituran Location and Control in a report on Wednesday, October 8th. Wall Street Zen lowered Ituran Location and Control from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Stock Performance

Shares of ITRN stock opened at $38.11 on Tuesday. The stock has a 50 day moving average price of $36.32 and a 200 day moving average price of $37.33. Ituran Location and Control Ltd. has a 52-week low of $26.50 and a 52-week high of $45.43. The firm has a market capitalization of $758.01 million, a P/E ratio of 13.66 and a beta of 0.88.

Ituran Location and Control (NASDAQ:ITRN) last announced 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). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The business had revenue of $86.79 million during the quarter, compared to the consensus estimate of $89.17 million.

Ituran Location and Control Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, September 25th. Ituran Location and Control’s dividend payout ratio (DPR) is currently 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.