State of Wyoming Buys New Position in Ituran Location and Control Ltd. $ITRN

State of Wyoming bought a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) during the third quarter, HoldingsChannel reports. The institutional investor bought 11,306 shares of the industrial products company’s stock, valued at approximately $404,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITRN. Assetmark Inc. bought a new position in shares of Ituran Location and Control during the 2nd quarter valued at about $37,000. Jones Financial Companies Lllp raised 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 purchasing an additional 939 shares in the last quarter. Covestor Ltd acquired a new stake in Ituran Location and Control during the third quarter valued at approximately $47,000. CWM LLC boosted its holdings in Ituran Location and Control by 750.0% during the third quarter. CWM LLC now owns 1,700 shares of the industrial products company’s stock worth $61,000 after buying an additional 1,500 shares in the last quarter. Finally, Copeland Capital Management LLC grew its position in Ituran Location and Control by 33.4% in the third quarter. Copeland Capital Management LLC now owns 1,871 shares of the industrial products company’s stock worth $67,000 after buying an additional 468 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Price Performance

NASDAQ:ITRN opened at $44.74 on Friday. Ituran Location and Control Ltd. has a 1-year low of $30.06 and a 1-year high of $46.60. The business’s fifty day moving average price is $43.42 and its 200 day moving average price is $39.52.

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 analysts’ consensus estimates of $0.68 by $0.06. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%. The business had revenue of $92.28 million for the quarter, compared to the consensus estimate of $86.52 million.

Ituran Location and Control Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, December 29th. Ituran Location and Control’s payout ratio is 70.42%.

Analysts Set New Price Targets

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

Ituran Location and Control Company 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.