Vulcan Value Partners LLC Has $7.57 Million Stock Holdings in Ituran Location and Control Ltd. $ITRN

Vulcan Value Partners LLC reduced its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 74.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 124,028 shares of the industrial products company’s stock after selling 369,812 shares during the period. Vulcan Value Partners LLC’s holdings in Ituran Location and Control were worth $7,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in shares of Ituran Location and Control by 5,702.0% in the 2nd quarter. California State Teachers Retirement System now owns 967,070 shares of the industrial products company’s stock valued at $59,001,000 after purchasing an additional 950,402 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of Ituran Location and Control by 3.8% during the 1st quarter. Y.D. More Investments Ltd now owns 891,274 shares of the industrial products company’s stock valued at $43,681,000 after purchasing an additional 33,000 shares in the last quarter. GW&K Investment Management LLC lifted its stake in Ituran Location and Control by 909.3% in the fourth quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock valued at $23,218,000 after buying an additional 486,331 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Ituran Location and Control by 0.7% during the first quarter. Rice Hall James & Associates LLC now owns 531,854 shares of the industrial products company’s stock worth $26,066,000 after acquiring an additional 3,690 shares in the last quarter. Finally, River Road Asset Management LLC lifted its position in Ituran Location and Control by 0.3% in the 4th quarter. River Road Asset Management LLC now owns 410,105 shares of the industrial products company’s stock valued at $17,639,000 after acquiring an additional 1,370 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITRN. Zacks Research raised Ituran Location and Control to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings downgraded Ituran Location and Control from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 26th. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Finally, UBS Group reiterated a “buy” rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ituran Location and Control presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Ituran Location and Control Trading Up 0.1%

Shares of NASDAQ ITRN traded up $0.05 during mid-day trading on Tuesday, hitting $51.79. The company had a trading volume of 81,856 shares, compared to its average volume of 130,120. The firm has a 50-day simple moving average of $54.24 and a two-hundred day simple moving average of $55.45. The company has a market capitalization of $1.03 billion, a PE ratio of 15.98 and a beta of 0.78. Ituran Location and Control Ltd. has a one year low of $33.82 and a one year high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $104.79 million for the quarter, compared to analyst estimates of $99.84 million. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. Sell-side analysts expect that Ituran Location and Control Ltd. will post 3.54 earnings per share for the current fiscal year.

Ituran Location and Control Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 29th. Ituran Location and Control’s dividend payout ratio is 61.73%.

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.