Magnetar Financial LLC Buys Shares of 12,313 Ituran Location and Control Ltd. (NASDAQ:ITRN)

Magnetar Financial LLC purchased a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,313 shares of the industrial products company's stock, valued at approximately $384,000. Magnetar Financial LLC owned about 0.06% of Ituran Location and Control at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Ituran Location and Control during the 4th quarter worth about $117,000. Van ECK Associates Corp lifted its position in Ituran Location and Control by 11.3% during the fourth quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company's stock worth $121,000 after acquiring an additional 392 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Ituran Location and Control during the third quarter worth approximately $137,000. BNP Paribas Financial Markets grew its position in shares of Ituran Location and Control by 214.2% in the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company's stock valued at $160,000 after purchasing an additional 4,098 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Ituran Location and Control during the fourth quarter worth approximately $207,000. 94.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays boosted their price target on Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th.

Remove Ads

Ituran Location and Control Stock Performance

Shares of ITRN stock traded up $0.03 on Thursday, hitting $36.88. The company's stock had a trading volume of 61,598 shares, compared to its average volume of 91,958. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43. The company has a market capitalization of $733.69 million, a PE ratio of 14.13 and a beta of 1.10. The stock's 50 day moving average is $36.69 and its 200-day moving average is $31.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $82.88 million for the quarter, compared to analysts' expectations of $81.81 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This is a boost from Ituran Location and Control's previous quarterly dividend of $0.39. This represents a $2.00 annualized dividend and a yield of 5.42%. Ituran Location and Control's payout ratio is currently 73.80%.

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.