Vulcan Value Partners LLC Sells 188,620 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Vulcan Value Partners LLC reduced its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 15.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,031,001 shares of the industrial products company's stock after selling 188,620 shares during the quarter. Vulcan Value Partners LLC owned approximately 5.18% of Ituran Location and Control worth $32,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRN. Barclays PLC raised its holdings in Ituran Location and Control by 132.1% during the 3rd quarter. Barclays PLC now owns 7,731 shares of the industrial products company's stock valued at $206,000 after buying an additional 4,400 shares during the last quarter. DGS Capital Management LLC boosted its stake 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 valued at $505,000 after purchasing an additional 2,460 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ituran Location and Control by 58.3% during the third quarter. JPMorgan Chase & Co. now owns 39,464 shares of the industrial products company's stock valued at $1,047,000 after buying an additional 14,527 shares during the period. CWA Asset Management Group LLC raised its stake in Ituran Location and Control by 20.3% in the fourth quarter. CWA Asset Management Group LLC now owns 12,708 shares of the industrial products company's stock worth $396,000 after buying an additional 2,144 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Ituran Location and Control in the fourth quarter worth about $835,000. 94.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays raised their price objective on shares of Ituran Location and Control from $35.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th.

Ituran Location and Control Price Performance

ITRN traded down $0.23 on Monday, hitting $34.65. The company had a trading volume of 86,603 shares, compared to its average volume of 97,848. Ituran Location and Control Ltd. has a 52-week low of $24.12 and a 52-week high of $45.43. The stock has a fifty day simple moving average of $36.48 and a 200-day simple moving average of $32.71. The firm has a market capitalization of $689.33 million, a P/E ratio of 13.28 and a beta of 0.90.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (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 firm had revenue of $82.88 million during the quarter, compared to analyst estimates of $81.81 million.

Ituran Location and Control Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.77%. This is a positive change from Ituran Location and Control's previous quarterly dividend of $0.39. The ex-dividend date was Thursday, March 20th. Ituran Location and Control's dividend payout ratio (DPR) is presently 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.