Ituran Location and Control Ltd. $ITRN Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,701 shares of the industrial products company’s stock after purchasing an additional 2,691 shares during the period. Envestnet Asset Management Inc.’s holdings in Ituran Location and Control were worth $1,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ARK Investment Management LLC purchased a new position in Ituran Location and Control during the 1st quarter worth approximately $2,131,000. Raymond James Financial Inc. boosted its holdings in shares of Ituran Location and Control by 44.0% in the first quarter. Raymond James Financial Inc. now owns 125,677 shares of the industrial products company’s stock valued at $4,544,000 after acquiring an additional 38,429 shares during the period. IFG Advisory LLC acquired a new stake in shares of Ituran Location and Control in the first quarter valued at approximately $1,335,000. Four Tree Island Advisory LLC grew its position in shares of Ituran Location and Control by 93.7% during the first quarter. Four Tree Island Advisory LLC now owns 57,198 shares of the industrial products company’s stock worth $2,068,000 after acquiring an additional 27,665 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Ituran Location and Control in the 1st quarter valued at $558,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Performance

Shares of ITRN opened at $36.70 on Wednesday. The stock has a market capitalization of $729.96 million, a P/E ratio of 13.15 and a beta of 0.88. Ituran Location and Control Ltd. has a 1 year low of $26.68 and a 1 year high of $45.43. The company’s fifty day moving average is $36.71 and its two-hundred day moving average is $37.42.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.06. Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The business had revenue of $92.28 million for the quarter, compared to the consensus estimate of $86.52 million.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, December 29th. Ituran Location and Control’s payout ratio is currently 71.68%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ITRN. Wall Street Zen downgraded shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ituran Location and Control in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $50.00.

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.