Vulcan Value Partners LLC Sells 188,620 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Vulcan Value Partners LLC lowered its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,031,001 shares of the industrial products company’s stock after selling 188,620 shares during the quarter. Vulcan Value Partners LLC owned 5.18% of Ituran Location and Control worth $32,116,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Ituran Location and Control in the 4th quarter valued at $117,000. Van ECK Associates Corp increased its holdings in shares of Ituran Location and Control by 11.3% in the fourth quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 392 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Ituran Location and Control during the fourth quarter worth about $207,000. Atria Investments Inc bought a new position in shares of Ituran Location and Control during the 4th quarter valued at about $209,000. Finally, GeoWealth Management LLC grew its position in shares of Ituran Location and Control by 7,556.8% in the 4th quarter. GeoWealth Management LLC now owns 7,274 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 7,179 shares during the period. Institutional investors own 94.80% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays raised their target price on shares of Ituran Location and Control from $35.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th.

Ituran Location and Control Trading Up 0.3 %

ITRN stock opened at $34.88 on Friday. The stock has a 50-day moving average price of $36.63 and a two-hundred day moving average price of $32.57. Ituran Location and Control Ltd. has a 1 year low of $24.12 and a 1 year high of $45.43. The stock has a market cap of $693.90 million, a PE ratio of 13.36 and a beta of 0.90.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $82.88 million during the quarter, compared to the consensus estimate of $81.81 million. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Ituran Location and Control Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a $0.50 dividend. The ex-dividend date was Thursday, March 20th. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.73%. Ituran Location and Control’s dividend payout ratio (DPR) is 73.80%.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.