Envestnet Asset Management Inc. Has $1.56 Million Stock Holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Envestnet Asset Management Inc. increased its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 294.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,010 shares of the industrial products company’s stock after acquiring an additional 32,113 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ituran Location and Control were worth $1,555,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its stake in Ituran Location and Control by 26.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company’s stock valued at $8,553,000 after buying an additional 56,956 shares during the period. Teacher Retirement System of Texas acquired a new position in Ituran Location and Control in the first quarter valued at about $262,000. Millennium Management LLC lifted its stake in Ituran Location and Control by 8.8% in the fourth quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company’s stock valued at $7,119,000 after buying an additional 18,563 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Ituran Location and Control by 61.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 12,248 shares of the industrial products company’s stock valued at $382,000 after buying an additional 4,648 shares during the period. Finally, Bank of America Corp DE lifted its stake in Ituran Location and Control by 147.5% in the fourth quarter. Bank of America Corp DE now owns 8,707 shares of the industrial products company’s stock valued at $271,000 after buying an additional 5,189 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th.

Ituran Location and Control Trading Up 0.6%

NASDAQ:ITRN opened at $40.02 on Thursday. Ituran Location and Control Ltd. has a 1-year low of $25.09 and a 1-year high of $45.43. The business’s 50-day moving average price is $38.13 and its two-hundred day moving average price is $36.62. The firm has a market capitalization of $796.00 million, a price-to-earnings ratio of 14.40 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. Ituran Location and Control had a return on equity of 29.19% and a net margin of 16.35%. The firm had revenue of $86.46 million for the quarter, compared to analyst estimates of $88.47 million.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.00%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 71.94%.

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.