Ituran Location and Control Ltd. $ITRN Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC cut its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 47.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,917 shares of the industrial products company’s stock after selling 27,947 shares during the quarter. CWA Asset Management Group LLC’s holdings in Ituran Location and Control were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ITRN. Natixis Advisors LLC boosted its holdings in shares of Ituran Location and Control by 2.8% in the 3rd quarter. Natixis Advisors LLC now owns 12,054 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 333 shares during the last quarter. Legato Capital Management LLC raised its holdings in shares of Ituran Location and Control by 8.4% during the third quarter. Legato Capital Management LLC now owns 5,698 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 443 shares during the last quarter. Copeland Capital Management LLC raised its holdings 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 worth $67,000 after purchasing an additional 468 shares during the last quarter. California State Teachers Retirement System lifted its position in Ituran Location and Control by 3.5% during the second quarter. California State Teachers Retirement System now owns 15,970 shares of the industrial products company’s stock valued at $619,000 after purchasing an additional 536 shares during the period. Finally, ARK Investment Management LLC lifted its position in Ituran Location and Control by 1.1% during the third quarter. ARK Investment Management LLC now owns 50,002 shares of the industrial products company’s stock valued at $1,786,000 after purchasing an additional 562 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Ituran Location and Control Stock Performance

ITRN stock opened at $48.59 on Monday. Ituran Location and Control Ltd. has a one year low of $30.06 and a one year high of $51.76. The firm’s fifty day moving average is $46.99 and its 200 day moving average is $41.66. The firm has a market cap of $966.65 million, a PE ratio of 16.70 and a beta of 0.68.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Thursday, March 5th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%. The business had revenue of $93.50 million during the quarter, compared to the consensus estimate of $93.30 million.

Ituran Location and Control Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Monday, March 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend is Monday, March 30th. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.50. Ituran Location and Control’s payout ratio is currently 206.19%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ITRN shares. Wall Street Zen raised Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Maxim Group began coverage on Ituran Location and Control in a research note on Thursday, March 12th. They issued a “buy” rating and a $70.00 target price on the stock. Barclays raised their target price on Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, Loop Capital set a $57.00 price target on Ituran Location and Control in a research report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $60.67.

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.