Lazard Asset Management LLC purchased a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,600 shares of the industrial products company’s stock, valued at approximately $863,000. Lazard Asset Management LLC owned approximately 0.13% of Ituran Location and Control at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITRN. Wells Fargo & Company MN lifted its position in shares of Ituran Location and Control by 30.8% in the second quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,078 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Ituran Location and Control by 47.8% in the second quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 2,263 shares in the last quarter. Covey Capital Advisors LLC purchased a new stake in shares of Ituran Location and Control in the second quarter worth approximately $252,000. Summit Global Investments purchased a new stake in shares of Ituran Location and Control in the second quarter worth approximately $495,000. Finally, Sei Investments Co. purchased a new stake in shares of Ituran Location and Control in the second quarter worth approximately $754,000. 51.75% of the stock is owned by institutional investors and hedge funds.

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) opened at 35.45 on Thursday. The stock has a market capitalization of $743.32 million, a price-to-earnings ratio of 18.23 and a beta of 0.80. Ituran Location and Control Ltd. has a 52-week low of $23.95 and a 52-week high of $36.95. The stock has a 50 day moving average of $32.60 and a 200-day moving average of $31.38.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Wednesday, August 16th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter. Ituran Location and Control had a return on equity of 36.12% and a net margin of 18.67%. The business had revenue of $58.53 million during the quarter. On average, equities research analysts predict that Ituran Location and Control Ltd. will post $1.74 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be given a $0.24 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.96 annualized dividend and a dividend yield of 2.69%. Ituran Location and Control’s dividend payout ratio is presently 49.23%.

ITRN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Ituran Location and Control from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Thursday, June 8th. BidaskClub raised shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th.

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About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications.

Institutional Ownership by Quarter for Ituran Location and Control (NASDAQ:ITRN)

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