Renaissance Technologies LLC Acquires 79,200 Shares of Ituran Location and Control Ltd. (US) (ITRN)

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Renaissance Technologies LLC lifted its holdings in shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,339,600 shares of the industrial products company’s stock after purchasing an additional 79,200 shares during the period. Renaissance Technologies LLC owned about 0.06% of Ituran Location and Control Ltd. (US) worth $40,657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ITRN. FMR LLC increased its stake in shares of Ituran Location and Control Ltd. (US) by 11.9% during the 2nd quarter. FMR LLC now owns 1,987,713 shares of the industrial products company’s stock worth $60,327,000 after purchasing an additional 211,975 shares in the last quarter. Delek Group Ltd. increased its stake in shares of Ituran Location and Control Ltd. (US) by 28.5% during the 2nd quarter. Delek Group Ltd. now owns 196,415 shares of the industrial products company’s stock worth $6,008,000 after purchasing an additional 43,613 shares in the last quarter. River Road Asset Management LLC increased its stake in shares of Ituran Location and Control Ltd. (US) by 2.4% during the 2nd quarter. River Road Asset Management LLC now owns 354,017 shares of the industrial products company’s stock worth $10,744,000 after purchasing an additional 8,177 shares in the last quarter. Citadel Advisors LLC grew its stake in Ituran Location and Control Ltd. (US) by 31.0% in the 2nd quarter. Citadel Advisors LLC now owns 31,522 shares of the industrial products company’s stock worth $957,000 after acquiring an additional 7,458 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Ituran Location and Control Ltd. (US) in the 2nd quarter worth approximately $108,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on ITRN. BidaskClub cut shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 19th. Jefferies Financial Group began coverage on shares of Ituran Location and Control Ltd. (US) in a research note on Friday, July 20th. They issued a “buy” rating and a $35.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.50.

ITRN stock opened at $33.00 on Friday. The company has a market capitalization of $801.69 million, a price-to-earnings ratio of 16.42, a PEG ratio of 1.37 and a beta of 0.91. Ituran Location and Control Ltd. has a one year low of $29.25 and a one year high of $38.00.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last released its earnings results on Thursday, August 30th. The industrial products company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The firm had revenue of $57.72 million during the quarter, compared to analysts’ expectations of $59.92 million. Ituran Location and Control Ltd. (US) had a net margin of 17.91% and a return on equity of 32.97%. equities analysts anticipate that Ituran Location and Control Ltd. will post 2.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Wednesday, September 26th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 25th. This represents a $0.96 annualized dividend and a yield of 2.91%. Ituran Location and Control Ltd. (US)’s payout ratio is currently 45.93%.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which 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 personal locator services that allow customers to protect valuable merchandise and equipment.

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Institutional Ownership by Quarter for Ituran Location and Control Ltd. (US) (NASDAQ:ITRN)

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