Renaissance Group LLC Sells 18,368 Shares of Ituran Location and Control Ltd. $ITRN

Renaissance Group LLC reduced its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 42.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,025 shares of the industrial products company’s stock after selling 18,368 shares during the period. Renaissance Group LLC owned 0.13% of Ituran Location and Control worth $894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assetmark Inc. bought a new position in Ituran Location and Control in the second quarter worth approximately $37,000. Jones Financial Companies Lllp lifted its holdings in shares of Ituran Location and Control by 327.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after buying an additional 939 shares during the period. Covestor Ltd bought a new position in shares of Ituran Location and Control during the 3rd quarter worth $47,000. CWM LLC increased its stake in shares of Ituran Location and Control by 750.0% during the third quarter. CWM LLC now owns 1,700 shares of the industrial products company’s stock valued at $61,000 after buying an additional 1,500 shares during the period. Finally, Copeland Capital Management LLC increased its stake in shares of Ituran Location and Control by 33.4% during the third quarter. Copeland Capital Management LLC now owns 1,871 shares of the industrial products company’s stock valued at $67,000 after buying an additional 468 shares during the period. Institutional investors own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

ITRN has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ituran Location and Control in a research note on Monday, December 29th. Wall Street Zen raised shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ituran Location and Control presently has a consensus rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Stock Performance

ITRN stock opened at $45.96 on Friday. Ituran Location and Control Ltd. has a one year low of $30.06 and a one year high of $46.60. The firm has a market cap of $914.14 million, a price-to-earnings ratio of 16.18 and a beta of 0.71. The firm has a 50-day simple moving average of $43.54 and a two-hundred day simple moving average of $39.58.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. The firm had revenue of $92.28 million during the quarter, compared to analyst estimates of $86.52 million. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, December 29th. Ituran Location and Control’s dividend payout ratio is currently 70.42%.

About Ituran Location and Control

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.