Ituran Location and Control Ltd. $ITRN Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC boosted its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 509.7% in the 4th quarter, Holdings Channel reports. The firm owned 34,739 shares of the industrial products company’s stock after buying an additional 29,041 shares during the period. Legato Capital Management LLC’s holdings in Ituran Location and Control were worth $1,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its stake in Ituran Location and Control by 50.1% during the fourth quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 219 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Ituran Location and Control during the third quarter valued at approximately $28,000. Jones Financial Companies Lllp lifted its stake in Ituran Location and Control by 327.2% during the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 939 shares during the last quarter. Covestor Ltd acquired a new stake in Ituran Location and Control during the third quarter valued at approximately $47,000. Finally, National Bank of Canada FI acquired a new stake in Ituran Location and Control during the third quarter valued at approximately $53,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Price Performance

ITRN stock opened at $60.11 on Monday. Ituran Location and Control Ltd. has a 52-week low of $32.71 and a 52-week high of $62.31. The company’s 50 day simple moving average is $54.46 and its 200-day simple moving average is $47.40. The firm has a market capitalization of $1.20 billion, a P/E ratio of 20.66 and a beta of 0.73.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Saturday, February 14th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%. The business had revenue of $93.50 million for the quarter.

Ituran Location and Control Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were issued a dividend of $1.50 per share. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.50. This represents a $6.00 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date was Monday, March 30th. Ituran Location and Control’s dividend payout ratio (DPR) is presently 206.19%.

Wall Street Analyst Weigh In

ITRN has been the subject of several recent research reports. Barclays increased their target price on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Maxim Group initiated coverage on shares of Ituran Location and Control in a research note on Thursday, March 12th. They set a “buy” rating and a $70.00 target price for the company. Wall Street Zen lowered shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research note on Friday, March 27th. Finally, Loop Capital set a $57.00 price target on shares of Ituran Location and Control in a report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $60.67.

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.