SeaCrest Wealth Management LLC Purchases New Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

SeaCrest Wealth Management LLC purchased a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,317 shares of the industrial products company’s stock, valued at approximately $445,000. SeaCrest Wealth Management LLC owned approximately 0.06% of Ituran Location and Control as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of 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 valued at $121,000 after acquiring an additional 392 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Ituran Location and Control by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 15,161 shares of the industrial products company’s stock valued at $472,000 after acquiring an additional 532 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Ituran Location and Control by 7.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,629 shares of the industrial products company’s stock valued at $923,000 after acquiring an additional 2,075 shares in the last quarter. XTX Topco Ltd lifted its position in Ituran Location and Control by 10.5% during the fourth quarter. XTX Topco Ltd now owns 22,256 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 2,106 shares during the period. Finally, HighTower Advisors LLC lifted its position in Ituran Location and Control by 7.8% during the fourth quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company’s stock valued at $968,000 after purchasing an additional 2,249 shares during the period. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Stock Down 0.3%

NASDAQ ITRN opened at $37.64 on Friday. Ituran Location and Control Ltd. has a 52 week low of $24.12 and a 52 week high of $45.43. The firm has a market capitalization of $748.81 million, a P/E ratio of 14.42 and a beta of 0.82. The company has a 50-day moving average price of $35.61 and a 200-day moving average price of $34.60.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The firm had revenue of $86.46 million during the quarter, compared to analyst estimates of $88.47 million.

Ituran Location and Control Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be given a $0.50 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $2.00 annualized dividend and a yield of 5.31%. Ituran Location and Control’s payout ratio is presently 71.94%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays lifted their target price on shares of Ituran Location and Control from $35.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Wall Street Zen downgraded Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 30th.

Ituran Location and Control 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.