CenterBook Partners LP Makes New Investment in Ituran Location and Control Ltd. $ITRN

CenterBook Partners LP purchased a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,320 shares of the industrial products company’s stock, valued at approximately $990,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rice Hall James & Associates LLC lifted its stake in Ituran Location and Control by 0.7% during the first quarter. Rice Hall James & Associates LLC now owns 531,854 shares of the industrial products company’s stock valued at $26,066,000 after buying an additional 3,690 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Ituran Location and Control by 1.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 342,775 shares of the industrial products company’s stock worth $16,799,000 after acquiring an additional 4,196 shares in the last quarter. Sei Investments Co. increased its position in shares of Ituran Location and Control by 2.7% in the first quarter. Sei Investments Co. now owns 111,874 shares of the industrial products company’s stock worth $5,483,000 after acquiring an additional 2,889 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Ituran Location and Control by 10.3% in the first quarter. Lazard Asset Management LLC now owns 111,710 shares of the industrial products company’s stock worth $5,475,000 after acquiring an additional 10,464 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Ituran Location and Control by 3.9% during the first quarter. Segall Bryant & Hamill LLC now owns 58,100 shares of the industrial products company’s stock valued at $2,847,000 after acquiring an additional 2,200 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Trading Down 4.2%

NASDAQ:ITRN opened at $49.64 on Wednesday. The business’s fifty day moving average price is $51.58 and its 200 day moving average price is $53.70. The firm has a market capitalization of $987.34 million, a price-to-earnings ratio of 15.32 and a beta of 0.79. Ituran Location and Control Ltd. has a 1-year low of $35.22 and a 1-year high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. The firm had revenue of $104.79 million during the quarter, compared to analyst estimates of $99.84 million. Equities analysts forecast that Ituran Location and Control Ltd. will post 3.54 earnings per share for the current year.

Analyst Ratings Changes

ITRN has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut shares of Ituran Location and Control from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 22nd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Ituran Location and Control currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Ituran Location and Control Profile

Ituran Location and Control Ltd. provides location-based telematics services and products for drivers, vehicle owners, and businesses. Its offerings include stolen-vehicle recovery and tracking, fleet management, and connected-vehicle services that help customers monitor vehicles and manage their use. The company combines in-vehicle hardware with wireless communications and location technology to deliver tracking, alerts, and vehicle-related information. Ituran serves customers in Israel and several international markets, including countries in Latin America.