Renaissance Group LLC Sells 4,738 Shares of Ituran Location and Control Ltd. $ITRN

Renaissance Group LLC trimmed its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,393 shares of the industrial products company’s stock after selling 4,738 shares during the period. Renaissance Group LLC owned about 0.22% of Ituran Location and Control worth $1,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. purchased a new position in shares of Ituran Location and Control during the second quarter valued at approximately $293,000. Invst LLC purchased a new stake in shares of Ituran Location and Control in the first quarter worth approximately $398,000. Foundations Investment Advisors LLC lifted its stake in shares of Ituran Location and Control by 130.7% during the 1st quarter. Foundations Investment Advisors LLC now owns 16,667 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 9,442 shares during the last quarter. IFG Advisory LLC purchased a new position in Ituran Location and Control during the 1st quarter valued at $1,335,000. Finally, CSM Advisors LLC purchased a new position in Ituran Location and Control during the 2nd quarter valued at $3,731,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $36.06 on Thursday. Ituran Location and Control Ltd. has a one year low of $27.12 and a one year high of $45.43. The firm has a market cap of $717.23 million, a P/E ratio of 12.92 and a beta of 0.88. The firm has a 50-day simple moving average of $36.75 and a 200-day simple moving average of $37.41.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The firm had revenue of $92.28 million for the quarter, compared to the consensus estimate of $86.52 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%.

Ituran Location and Control Announces Dividend

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 issued a $0.50 dividend. The ex-dividend date is Monday, December 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 71.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Ituran Location and Control in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.