10,000 Shares in IDT Co. (NYSE:IDT) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in IDT Co. (NYSE:IDT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the utilities provider's stock, valued at approximately $475,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in IDT by 4.1% during 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 acquiring an additional 6,183 shares in the last quarter. FMR LLC boosted its position in IDT by 26.8% during the third quarter. FMR LLC now owns 83,868 shares of the utilities provider's stock valued at $3,201,000 after purchasing an additional 17,725 shares in the last quarter. BNP Paribas Financial Markets grew its stake in IDT by 15.7% in the third quarter. BNP Paribas Financial Markets now owns 11,376 shares of the utilities provider's stock valued at $434,000 after purchasing an additional 1,547 shares during the last quarter. Verition Fund Management LLC bought a new position in IDT in the third quarter worth about $273,000. Finally, Point72 Asset Management L.P. lifted its position in shares of IDT by 272.1% during the third quarter. Point72 Asset Management L.P. now owns 13,396 shares of the utilities provider's stock valued at $511,000 after buying an additional 9,796 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at IDT

In other news, CTO David Wartell sold 10,735 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a document filed with the SEC, which is available through this link. 25.32% of the stock is currently owned by company insiders.

IDT Trading Down 2.3 %

Shares of IDT traded down $1.09 during midday trading on Tuesday, hitting $46.18. 125,709 shares of the company's stock traded hands, compared to its average volume of 91,913. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.82 and a beta of 0.58. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77. The firm's fifty day moving average is $49.08 and its 200-day moving average is $47.86.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS 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 during the quarter.

IDT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, March 17th. This is an increase from IDT's previous quarterly dividend of $0.05. IDT's payout ratio is currently 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.