Burney Co. Invests $638,000 in Ituran Location and Control Ltd. $ITRN

Burney Co. purchased a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,018 shares of the industrial products company’s stock, valued at approximately $638,000. Burney Co. owned approximately 0.07% of Ituran Location and Control at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ITRN. DGS Capital Management LLC grew its holdings in shares of Ituran Location and Control by 2.1% during the first quarter. DGS Capital Management LLC now owns 29,457 shares of the industrial products company’s stock valued at $1,444,000 after buying an additional 596 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Ituran Location and Control during the first quarter valued at approximately $1,451,000. Severin Investments LLC purchased a new position in Ituran Location and Control in the 1st quarter worth approximately $349,000. Inspire Investing LLC purchased a new position in Ituran Location and Control in the 1st quarter worth approximately $1,587,000. Finally, Janney Montgomery Scott LLC lifted its position in Ituran Location and Control by 3.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,906 shares of the industrial products company’s stock valued at $1,074,000 after acquiring an additional 648 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ituran Location and Control Trading Up 2.9%

ITRN opened at $56.28 on Friday. The firm’s 50 day simple moving average is $61.25 and its two-hundred day simple moving average is $52.81. The company has a market capitalization of $1.12 billion, a PE ratio of 18.57 and a beta of 0.77. Ituran Location and Control Ltd. has a 1-year low of $32.71 and a 1-year high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share (EPS) 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 firm had revenue of $102.67 million during the quarter, compared to the consensus estimate of $95.32 million. Equities analysts forecast that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current fiscal year.

Ituran Location and Control Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 24th were given a $0.50 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. Ituran Location and Control’s dividend payout ratio is presently 66.01%.

Ituran Location and Control Company 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.