23,300 Shares in Ituran Location and Control Ltd. (NASDAQ:ITRN) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,300 shares of the industrial products company's stock, valued at approximately $733,000. KLP Kapitalforvaltning AS owned about 0.12% of Ituran Location and Control as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Ituran Location and Control by 11.3% in 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 period. CWA Asset Management Group LLC raised its stake in shares of Ituran Location and Control by 20.3% in the 4th quarter. CWA Asset Management Group LLC now owns 12,708 shares of the industrial products company's stock valued at $396,000 after acquiring an additional 2,144 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Ituran Location and Control by 7.8% in the 4th quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company's stock worth $968,000 after acquiring an additional 2,249 shares during the last quarter. DGS Capital Management LLC boosted its position in shares of Ituran Location and Control by 14.8% during the 3rd quarter. DGS Capital Management LLC now owns 19,030 shares of the industrial products company's stock worth $505,000 after purchasing an additional 2,460 shares during the period. Finally, R Squared Ltd acquired a new stake in Ituran Location and Control in the 4th quarter valued at approximately $117,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

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

Ituran Location and Control Trading Down 6.4 %

Ituran Location and Control stock traded down $2.25 during midday trading on Friday, reaching $32.75. 183,166 shares of the stock traded hands, compared to its average volume of 94,814. The firm has a market cap of $651.53 million, a PE ratio of 12.55 and a beta of 0.90. The company has a 50-day simple moving average of $37.01 and a two-hundred day simple moving average of $31.88. Ituran Location and Control Ltd. has a 12-month low of $24.12 and a 12-month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The business had revenue of $82.88 million during the quarter, compared to analyst estimates of $81.81 million.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.11%. This is a positive change from Ituran Location and Control's previous quarterly dividend of $0.39. Ituran Location and Control's dividend payout ratio is currently 73.80%.

About Ituran Location and Control

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.