Belpointe Asset Management LLC Invests $517,000 in Ituran Location and Control Ltd. $ITRN

Belpointe Asset Management LLC acquired a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,474 shares of the industrial products company’s stock, valued at approximately $517,000. Belpointe Asset Management LLC owned 0.07% of Ituran Location and Control as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its position in Ituran Location and Control by 684.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,268 shares of the industrial products company’s stock valued at $1,510,000 after acquiring an additional 36,877 shares in the last quarter. Inlet Private Wealth LLC boosted its position in Ituran Location and Control by 4.4% during the third quarter. Inlet Private Wealth LLC now owns 140,195 shares of the industrial products company’s stock valued at $5,008,000 after purchasing an additional 5,845 shares in the last quarter. Covestor Ltd purchased a new position in Ituran Location and Control in the third quarter valued at about $47,000. Hennion & Walsh Asset Management Inc. raised its holdings in Ituran Location and Control by 68.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,083 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 3,682 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Ituran Location and Control by 212.5% during the third quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock valued at $2,103,000 after buying an additional 40,027 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

ITRN opened at $44.63 on Friday. The firm’s 50-day moving average price is $43.03 and its 200-day moving average price is $39.34. Ituran Location and Control Ltd. has a 52-week low of $30.06 and a 52-week high of $45.90.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%. The company had revenue of $92.28 million for the quarter, compared to the consensus estimate of $86.52 million.

Ituran Location and Control Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 29th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, December 29th. Ituran Location and Control’s dividend payout ratio is presently 70.42%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ITRN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $50.00.

About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.