KLP Kapitalforvaltning AS Purchases Shares of 23,300 Ituran Location and Control Ltd. (NASDAQ:ITRN)

KLP Kapitalforvaltning AS purchased a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,300 shares of the industrial products company’s stock, valued at approximately $733,000. KLP Kapitalforvaltning AS owned about 0.12% of Ituran Location and Control as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Ituran Location and Control during the 4th quarter worth approximately $2,718,000. Seizert Capital Partners LLC lifted its stake in shares of Ituran Location and Control by 32.3% during the fourth quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company’s stock worth $4,928,000 after buying an additional 38,652 shares during the period. Four Tree Island Advisory LLC purchased a new stake in shares of Ituran Location and Control during the fourth quarter valued at $920,000. HighTower Advisors LLC acquired a new position in shares of Ituran Location and Control in the 3rd quarter valued at $767,000. Finally, Assenagon Asset Management S.A. purchased a new position in Ituran Location and Control in the 4th quarter worth $835,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays boosted their price target on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

Ituran Location and Control Trading Down 0.0 %

ITRN opened at $36.15 on Wednesday. The firm has a 50 day moving average of $36.96 and a two-hundred day moving average of $31.73. The firm has a market capitalization of $719.17 million, a PE ratio of 13.85 and a beta of 1.10. Ituran Location and Control Ltd. has a 12-month low of $24.12 and a 12-month high of $45.43.

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

Ituran Location and Control Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.53%. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, March 20th. Ituran Location and Control’s dividend payout ratio (DPR) is 73.80%.

Ituran Location and Control Profile

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.