Intech Investment Management LLC Takes Position in IDT Co. (NYSE:IDT)

Intech Investment Management LLC purchased a new position in shares of IDT Co. (NYSE:IDT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,147 shares of the utilities provider’s stock, valued at approximately $387,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDT. Victory Capital Management Inc. raised its holdings in shares of IDT by 7.3% during the third quarter. Victory Capital Management Inc. now owns 34,313 shares of the utilities provider’s stock valued at $1,310,000 after acquiring an additional 2,320 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in IDT by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock valued at $6,024,000 after purchasing an additional 6,183 shares during the last quarter. Cerity Partners LLC lifted its holdings in IDT by 121.7% in the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after purchasing an additional 52,532 shares in the last quarter. FMR LLC boosted its stake in IDT by 26.8% during the 3rd quarter. FMR LLC now owns 83,868 shares of the utilities provider’s stock worth $3,201,000 after purchasing an additional 17,725 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of IDT by 15.7% during the third quarter. BNP Paribas Financial Markets now owns 11,376 shares of the utilities provider’s stock worth $434,000 after buying an additional 1,547 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of IDT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th.

Insiders Place Their Bets

In other news, CTO David Wartell sold 10,735 shares of IDT stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total transaction of $525,907.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 25.32% of the stock is owned by insiders.

IDT Price Performance

Shares of IDT stock opened at $51.78 on Wednesday. IDT Co. has a 1-year low of $33.84 and a 1-year high of $58.77. The stock has a market cap of $1.31 billion, a P/E ratio of 17.73 and a beta of 0.84. The stock’s 50 day simple moving average is $48.51 and its 200-day simple moving average is $46.97.

IDT (NYSE:IDT) last released its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 earnings per share for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The company had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were given a dividend of $0.06 per share. This is a boost from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, March 17th. IDT’s dividend payout ratio (DPR) is presently 7.62%.

IDT 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.