Burney Co. Buys New Shares in Ituran Location and Control Ltd. $ITRN

Burney Co. bought a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 13,018 shares of the industrial products company’s stock, valued at approximately $638,000.

Other institutional investors have also bought and sold shares of the company. GW&K Investment Management LLC raised its stake in Ituran Location and Control by 909.3% during the 4th quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock valued at $23,218,000 after purchasing an additional 486,331 shares during the period. Nuveen LLC boosted its stake in Ituran Location and Control by 721.6% in the 4th quarter. Nuveen LLC now owns 104,190 shares of the industrial products company’s stock worth $4,481,000 after purchasing an additional 91,509 shares during the period. Strategic Global Advisors LLC boosted its stake in Ituran Location and Control by 106.4% in the 4th quarter. Strategic Global Advisors LLC now owns 132,325 shares of the industrial products company’s stock worth $5,691,000 after purchasing an additional 68,222 shares during the period. Man Group plc grew its holdings 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 buying an additional 65,502 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Ituran Location and Control by 71.1% during the 4th quarter. Millennium Management LLC now owns 125,478 shares of the industrial products company’s stock valued at $5,397,000 after buying an additional 52,150 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Stock Up 2.9%

Ituran Location and Control stock opened at $56.28 on Friday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 18.57 and a beta of 0.77. The firm’s fifty day moving average is $61.25 and its 200 day moving average is $52.81. Ituran Location and Control Ltd. has a 52-week low of $32.71 and a 52-week high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Tuesday, May 26th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. The business had revenue of $102.67 million during the quarter, compared to analysts’ expectations of $95.32 million. On average, equities research analysts anticipate that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current fiscal year.

Ituran Location and Control Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. Ituran Location and Control’s dividend payout ratio (DPR) is presently 66.01%.

Analyst Ratings Changes

ITRN has been the topic of several research analyst reports. Zacks Research raised shares of Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. Maxim Group initiated coverage on shares of Ituran Location and Control in a research note on Thursday, March 12th. They set a “buy” rating and a $70.00 target price for the company. UBS Group reaffirmed a “buy” rating on shares of Ituran Location and Control in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a research note on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Ituran Location and Control currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

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.