Bank of Montreal Can Purchases 9,012 Shares of IDT Co. (NYSE:IDT)

Bank of Montreal Can grew its position in IDT Co. (NYSE:IDT) by 19.9% during the second quarter, HoldingsChannel reports. The firm owned 54,307 shares of the utilities provider’s stock after buying an additional 9,012 shares during the quarter. Bank of Montreal Can’s holdings in IDT were worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of IDT by 40.3% in the first quarter. Russell Investments Group Ltd. now owns 133,195 shares of the utilities provider’s stock valued at $5,036,000 after purchasing an additional 38,290 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of IDT in the first quarter valued at approximately $23,276,000. State Board of Administration of Florida Retirement System raised its position in shares of IDT by 28.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 26,642 shares of the utilities provider’s stock valued at $1,007,000 after purchasing an additional 5,842 shares during the period. Ritholtz Wealth Management bought a new position in shares of IDT in the second quarter valued at approximately $537,000. Finally, Americana Partners LLC acquired a new stake in shares of IDT in the second quarter worth $898,000. Institutional investors own 59.34% of the company’s stock.

Insiders Place Their Bets

In other IDT news, EVP Joyce J. Mason sold 7,570 shares of IDT stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total transaction of $281,982.50. Following the sale, the executive vice president now owns 12,996 shares in the company, valued at $484,101. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other IDT news, Director Eric F. Cosentino sold 800 shares of IDT stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $37.24, for a total transaction of $29,792.00. Following the sale, the director now owns 551 shares in the company, valued at $20,519.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joyce J. Mason sold 7,570 shares of IDT stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total transaction of $281,982.50. Following the sale, the executive vice president now owns 12,996 shares in the company, valued at approximately $484,101. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

IDT Trading Down 0.1 %

Shares of IDT stock opened at $37.94 on Friday. The company’s fifty day simple moving average is $37.46 and its 200-day simple moving average is $37.45. The company has a market cap of $961.36 million, a price-to-earnings ratio of 27.10 and a beta of 0.79. IDT Co. has a 1 year low of $26.61 and a 1 year high of $41.58.

IDT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. IDT’s payout ratio is 14.29%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 19th.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.