LMG Wealth Partners LLC Makes New $1.15 Million Investment in Ituran Location and Control Ltd. (NASDAQ:ITRN)

LMG Wealth Partners LLC acquired a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 31,687 shares of the industrial products company’s stock, valued at approximately $1,146,000. LMG Wealth Partners LLC owned approximately 0.16% of Ituran Location and Control as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ITRN. Segall Bryant & Hamill LLC lifted its stake in shares of Ituran Location and Control by 1.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 76,000 shares of the industrial products company’s stock valued at $2,748,000 after purchasing an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Ituran Location and Control during the 1st quarter worth about $54,000. Trek Financial LLC acquired a new position in shares of Ituran Location and Control during the 1st quarter worth about $289,000. Envestnet Asset Management Inc. boosted its stake in shares of Ituran Location and Control by 294.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 43,010 shares of the industrial products company’s stock worth $1,555,000 after buying an additional 32,113 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of Ituran Location and Control during the 1st quarter worth about $251,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th.

Ituran Location and Control Stock Down 1.8%

Shares of ITRN stock opened at $38.62 on Wednesday. The firm has a 50 day moving average price of $37.58 and a two-hundred day moving average price of $36.03. The company has a market capitalization of $768.15 million, a PE ratio of 13.89 and a beta of 0.82. Ituran Location and Control Ltd. has a 12-month low of $25.09 and a 12-month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%. The company had revenue of $86.46 million for the quarter, compared to analysts’ expectations of $88.47 million.

Ituran Location and Control Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.18%. Ituran Location and Control’s dividend payout ratio is presently 71.94%.

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.