Pzena Investment Management LLC Reduces Stake in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Pzena Investment Management LLC lessened its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,907 shares of the industrial products company’s stock after selling 3,581 shares during the quarter. Pzena Investment Management LLC’s holdings in Ituran Location and Control were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Inlet Private Wealth LLC lifted its stake in shares of Ituran Location and Control by 259.8% in the 4th quarter. Inlet Private Wealth LLC now owns 132,950 shares of the industrial products company’s stock valued at $3,622,000 after purchasing an additional 96,000 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in shares of Ituran Location and Control in the 3rd quarter valued at approximately $200,000. Trexquant Investment LP lifted its stake in shares of Ituran Location and Control by 68.2% in the 3rd quarter. Trexquant Investment LP now owns 25,003 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 10,134 shares during the period. Barclays PLC lifted its stake in shares of Ituran Location and Control by 12.2% in the 3rd quarter. Barclays PLC now owns 5,828 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 633 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Ituran Location and Control by 506.5% in the 3rd quarter. Lazard Asset Management LLC now owns 37,982 shares of the industrial products company’s stock valued at $1,135,000 after purchasing an additional 31,719 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

Shares of ITRN traded up $0.11 on Thursday, reaching $26.85. The stock had a trading volume of 4,081 shares, compared to its average volume of 49,978. The firm has a market capitalization of $534.05 million, a price-to-earnings ratio of 11.14 and a beta of 1.17. The company has a 50-day simple moving average of $27.05 and a 200-day simple moving average of $26.40. Ituran Location and Control Ltd. has a 12-month low of $22.36 and a 12-month high of $31.01.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Thursday, February 29th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $77.81 million during the quarter. Ituran Location and Control had a return on equity of 28.61% and a net margin of 15.04%.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th were paid a dividend of $0.39 per share. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $1.56 dividend on an annualized basis and a yield of 5.81%. Ituran Location and Control’s payout ratio is presently 65.00%.

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.