Heron Bay Capital Management Raises Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Heron Bay Capital Management increased its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 25.7% during the 4th quarter, HoldingsChannel reports. The fund owned 15,845 shares of the industrial products company’s stock after acquiring an additional 3,236 shares during the quarter. Heron Bay Capital Management’s holdings in Ituran Location and Control were worth $494,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Seizert Capital Partners LLC lifted its stake in shares of Ituran Location and Control by 32.3% in the fourth quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company’s stock worth $4,928,000 after acquiring an additional 38,652 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ituran Location and Control in the fourth quarter worth about $2,718,000. Segall Bryant & Hamill LLC lifted its stake in shares of Ituran Location and Control by 43.6% in the third quarter. Segall Bryant & Hamill LLC now owns 84,600 shares of the industrial products company’s stock worth $2,245,000 after acquiring an additional 25,700 shares in the last quarter. Delphi Management Inc. MA lifted its stake in shares of Ituran Location and Control by 12.3% in the fourth quarter. Delphi Management Inc. MA now owns 55,076 shares of the industrial products company’s stock worth $1,716,000 after acquiring an additional 6,015 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Ituran Location and Control by 11.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,854 shares of the industrial products company’s stock worth $1,553,000 after acquiring an additional 5,220 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Ituran Location and Control Stock Up 0.2 %

Shares of NASDAQ ITRN opened at $36.98 on Friday. The stock’s 50 day moving average price is $36.38 and its two-hundred day moving average price is $31.22. Ituran Location and Control Ltd. has a 52-week low of $24.12 and a 52-week high of $45.43. The stock has a market capitalization of $735.68 million, a P/E ratio of 14.17 and a beta of 1.10.

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

Ituran Location and Control Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.00 annualized dividend and a yield of 5.41%. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. Ituran Location and Control’s dividend payout ratio is presently 73.80%.

Ituran Location and Control Company 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.