Segall Bryant & Hamill LLC Trims Stock Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Segall Bryant & Hamill LLC lessened its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,000 shares of the industrial products company’s stock after selling 9,600 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.38% of Ituran Location and Control worth $2,336,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Heron Bay Capital Management increased its holdings in Ituran Location and Control by 25.7% in the 4th quarter. Heron Bay Capital Management now owns 15,845 shares of the industrial products company’s stock worth $494,000 after acquiring an additional 3,236 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Ituran Location and Control during the 4th quarter worth approximately $733,000. Magnetar Financial LLC acquired a new stake in Ituran Location and Control during the fourth quarter worth $384,000. Thrivent Financial for Lutherans acquired a new stake in shares of Ituran Location and Control during the 4th quarter worth about $229,000. Finally, Delphi Management Inc. MA raised its stake in shares of Ituran Location and Control by 12.3% in the 4th quarter. Delphi Management Inc. MA now owns 55,076 shares of the industrial products company’s stock valued at $1,716,000 after acquiring an additional 6,015 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ituran Location and Control Price Performance

Shares of NASDAQ ITRN opened at $36.88 on Friday. The stock’s 50-day moving average is $36.77 and its two-hundred day moving average is $31.47. The company has a market cap of $733.69 million, a price-to-earnings ratio of 14.13 and a beta of 1.10. Ituran Location and Control Ltd. has a 1-year low of $24.12 and a 1-year high of $45.43.

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

Ituran Location and Control Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a $0.50 dividend. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.00 annualized dividend and a dividend yield of 5.42%. Ituran Location and Control’s dividend payout ratio is presently 73.80%.

About Ituran Location and Control

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.