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

State of Wyoming purchased a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,306 shares of the industrial products company’s stock, valued at approximately $404,000. State of Wyoming owned 0.06% of Ituran Location and Control at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Assetmark Inc. acquired a new position in Ituran Location and Control during the 2nd quarter worth approximately $37,000. Jones Financial Companies Lllp grew its holdings in Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 939 shares in the last quarter. Covestor Ltd purchased a new stake in Ituran Location and Control during the 3rd quarter worth $47,000. CWM LLC boosted its position in Ituran Location and Control by 750.0% in the 3rd quarter. CWM LLC now owns 1,700 shares of the industrial products company’s stock valued at $61,000 after buying an additional 1,500 shares during the last quarter. Finally, Copeland Capital Management LLC grew its stake in shares of Ituran Location and Control by 33.4% during the third quarter. Copeland Capital Management LLC now owns 1,871 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 468 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Stock Down 0.3%

Shares of Ituran Location and Control stock 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 two-hundred day moving average price is $39.52.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $92.28 million for the quarter, compared to analyst estimates 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 company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 29th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $2.00 annualized dividend and a yield of 4.5%. Ituran Location and Control’s payout ratio is presently 70.42%.

Wall Street Analysts Forecast Growth

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

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.