KLP Kapitalforvaltning AS Purchases 11,000 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

KLP Kapitalforvaltning AS increased its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 47.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,300 shares of the industrial products company’s stock after buying an additional 11,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Ituran Location and Control were worth $1,253,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Ituran Location and Control in the first quarter valued at $54,000. Point72 Asset Management L.P. purchased a new stake in Ituran Location and Control during the fourth quarter valued at $178,000. Balyasny Asset Management L.P. bought a new position in Ituran Location and Control during the fourth quarter valued at $223,000. GeoWealth Management LLC grew its stake in shares of Ituran Location and Control by 7,556.8% in the 4th quarter. GeoWealth Management LLC now owns 7,274 shares of the industrial products company’s stock worth $227,000 after buying an additional 7,179 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Ituran Location and Control in the 4th quarter worth about $229,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Down 0.4%

Shares of ITRN opened at $40.70 on Monday. The business has a fifty day moving average of $37.99 and a 200 day moving average of $36.51. The company has a market cap of $809.52 million, a PE ratio of 14.64 and a beta of 0.82. Ituran Location and Control Ltd. has a 52-week low of $25.09 and a 52-week high of $45.43.

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

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were issued a $0.50 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 4.91%. Ituran Location and Control’s payout ratio is 71.94%.

Wall Street Analysts Forecast Growth

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

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.