CWA Asset Management Group LLC Boosts Stock Position in Ituran Location and Control Ltd. $ITRN

CWA Asset Management Group LLC boosted its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 212.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,864 shares of the industrial products company’s stock after purchasing an additional 40,027 shares during the period. CWA Asset Management Group LLC’s holdings in Ituran Location and Control were worth $2,103,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC grew its position in shares of Ituran Location and Control by 18.5% in the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock worth $28,097,000 after buying an additional 113,594 shares during the last quarter. CSM Advisors LLC bought a new stake in Ituran Location and Control in the second quarter valued at $3,731,000. Man Group plc increased its position in Ituran Location and Control by 90.8% during the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock valued at $5,331,000 after purchasing an additional 65,502 shares during the period. Russell Investments Group Ltd. increased its position in Ituran Location and Control by 72.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 64,534 shares of the industrial products company’s stock valued at $2,499,000 after purchasing an additional 27,172 shares during the period. Finally, Aristides Capital LLC raised its holdings in Ituran Location and Control by 11.9% in the 2nd quarter. Aristides Capital LLC now owns 229,974 shares of the industrial products company’s stock worth $8,907,000 after purchasing an additional 24,370 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ITRN has been the topic of a number of research reports. Wall Street Zen raised shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ituran Location and Control currently has a consensus rating of “Buy” and a consensus price target of $50.00.

Ituran Location and Control Trading Up 4.5%

ITRN stock opened at $44.44 on Tuesday. The firm has a 50 day moving average price of $40.53 and a 200-day moving average price of $38.54. Ituran Location and Control Ltd. has a 52-week low of $30.06 and a 52-week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. The company had revenue of $92.28 million for the quarter, compared to the consensus estimate of $86.52 million. Ituran Location and Control had a return on equity of 27.68% and a net margin of 16.23%.

Ituran Location and Control Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 29th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, December 29th. Ituran Location and Control’s payout ratio is currently 70.42%.

Ituran Location and Control Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.