Ituran Location And Control (ITRN) Declares $0.15 Dividend

Ituran Location And Control said on May 24, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Previously, the company paid $0.14 per share.

Shares must be purchased before the ex-div date of June 27, 2023 to qualify for the dividend. Shareholders of record as of June 28, 2023 will receive the payment on July 12, 2023.

At the current share price of $23.75 / share, the stock's dividend yield is 2.53%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.86%, the lowest has been 2.00%, and the highest has been 7.77%. The standard deviation of yields is 0.95 (n=199).

The current dividend yield is 0.35 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

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What is the Fund Sentiment?

There are 122 funds or institutions reporting positions in Ituran Location And Control. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ITRN is 0.53%, an increase of 38.45%. Total shares owned by institutions decreased in the last three months by 9.00% to 14,797K shares. The put/call ratio of ITRN is 0.15, indicating a bullish outlook.

Analyst Price Forecast Suggests 28.84% Upside

As of May 11, 2023, the average one-year price target for Ituran Location And Control is 30.60. The forecasts range from a low of 30.30 to a high of $31.50. The average price target represents an increase of 28.84% from its latest reported closing price of 23.75.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ituran Location And Control is 328MM, an increase of 11.77%. The projected annual non-GAAP EPS is 2.28.

What are Other Shareholders Doing?

Vulcan Value Partners holds 2,397K shares representing 11.92% ownership of the company. In it's prior filing, the firm reported owning 2,430K shares, representing a decrease of 1.34%. The firm decreased its portfolio allocation in ITRN by 4.20% over the last quarter.

Phoenix Holdings holds 1,909K shares representing 9.50% ownership of the company. In it's prior filing, the firm reported owning 1,858K shares, representing an increase of 2.71%. The firm decreased its portfolio allocation in ITRN by 1.90% over the last quarter.

VVPSX - Vulcan Value Partners Small Cap Fund Investor Class Shares holds 1,313K shares representing 6.53% ownership of the company. In it's prior filing, the firm reported owning 1,714K shares, representing a decrease of 30.60%. The firm decreased its portfolio allocation in ITRN by 14.18% over the last quarter.

Ibex Investors holds 1,257K shares representing 6.25% ownership of the company. In it's prior filing, the firm reported owning 1,256K shares, representing an increase of 0.02%. The firm increased its portfolio allocation in ITRN by 122.59% over the last quarter.

Renaissance Technologies holds 1,105K shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 1,121K shares, representing a decrease of 1.48%. The firm decreased its portfolio allocation in ITRN by 1.49% over the last quarter.

Ituran Location And Control Background Information
(This description is provided by the company.)

Ituran Location and Control Ltd. is an Israeli company that provides stolen vehicle recovery and tracking services, and markets GPS wireless communications products. Ituran is traded on NASDAQ and is included in the TA-100 Index.

This story originally appeared on Fintel.