Vulcan Value Partners LLC Sells 62,305 Shares of Ituran Location and Control Ltd. $ITRN

Vulcan Value Partners LLC lowered its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 540,059 shares of the industrial products company’s stock after selling 62,305 shares during the period. Vulcan Value Partners LLC owned 2.72% of Ituran Location and Control worth $23,430,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd lifted its holdings in Ituran Location and Control by 4.9% during the 4th quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company’s stock worth $37,236,000 after purchasing an additional 39,718 shares in the last quarter. J.M. Arbour LLC purchased a new position in Ituran Location and Control during the 4th quarter valued at about $881,000. CSM Advisors LLC grew its holdings in Ituran Location and Control by 30.2% during the 3rd quarter. CSM Advisors LLC now owns 125,435 shares of the industrial products company’s stock valued at $4,480,000 after buying an additional 29,090 shares in the last quarter. GW&K Investment Management LLC bought a new stake in shares of Ituran Location and Control during the third quarter valued at about $1,911,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of Ituran Location and Control during the fourth quarter valued at about $689,000. 94.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Maxim Group initiated coverage on shares of Ituran Location and Control in a research report on Thursday, March 12th. They issued a “buy” rating and a $70.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ituran Location and Control in a report on Friday, March 27th. Loop Capital set a $57.00 target price on shares of Ituran Location and Control in a research note on Monday, March 9th. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded shares of Ituran Location and Control to a “hold” rating in a research report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

Ituran Location and Control Stock Performance

Shares of NASDAQ ITRN opened at $65.49 on Friday. Ituran Location and Control Ltd. has a 12 month low of $32.71 and a 12 month high of $68.30. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 21.61 and a beta of 0.77. The business has a 50-day moving average of $60.04 and a 200-day moving average of $51.01.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. The business had revenue of $102.67 million for the quarter, compared to the consensus estimate of $95.32 million. On average, analysts predict that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current year.

Ituran Location and Control Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. Ituran Location and Control’s dividend payout ratio (DPR) is 198.02%.

Ituran Location and Control Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.