Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 11.7% during the 4th quarter, Holdings Channel reports. The firm owned 49,854 shares of the industrial products company’s stock after purchasing an additional 5,220 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ituran Location and Control were worth $1,553,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in Ituran Location and Control during the 4th quarter valued at $117,000. Van ECK Associates Corp boosted its stake in shares of Ituran Location and Control by 11.3% during the fourth quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 392 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Ituran Location and Control during the 3rd quarter worth about $137,000. BNP Paribas Financial Markets raised its stake in Ituran Location and Control by 214.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 4,098 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Ituran Location and Control by 132.1% in the 3rd quarter. Barclays PLC now owns 7,731 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 4,400 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Ituran Location and Control Stock Up 1.3 %

Shares of Ituran Location and Control stock opened at $37.87 on Thursday. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43. The business’s fifty day moving average is $36.17 and its two-hundred day moving average is $31.10. The firm has a market cap of $753.39 million, a PE ratio of 14.51 and a beta of 1.10.

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

Ituran Location and Control Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 annualized dividend and a dividend yield of 5.28%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 73.80%.

Analyst Upgrades and Downgrades

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

Ituran Location and Control 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.