Renaissance Group LLC Decreases Stock Position in Ituran Location and Control Ltd. $ITRN

Renaissance Group LLC lessened its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 42.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,025 shares of the industrial products company’s stock after selling 18,368 shares during the quarter. Renaissance Group LLC’s holdings in Ituran Location and Control were worth $894,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Ituran Location and Control by 18.5% in the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock valued at $28,097,000 after purchasing an additional 113,594 shares during the last quarter. CSM Advisors LLC acquired a new position in Ituran Location and Control during the 2nd quarter valued at approximately $3,731,000. Man Group plc raised its holdings in shares of Ituran Location and Control by 90.8% in the second quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock worth $5,331,000 after buying an additional 65,502 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in shares of Ituran Location and Control by 212.5% during the third quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock worth $2,103,000 after buying an additional 40,027 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Ituran Location and Control by 684.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 42,268 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 36,877 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $50.00.

Ituran Location and Control Stock Performance

NASDAQ:ITRN 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’s fifty day moving average is $43.54 and its two-hundred day moving average is $39.58.

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

Ituran Location and Control Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, December 29th. Ituran Location and Control’s dividend payout ratio (DPR) 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.