Intech Investment Management LLC Invests $387,000 in IDT Co. (NYSE:IDT)

Intech Investment Management LLC purchased a new position in shares of IDT Co. (NYSE:IDT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,147 shares of the utilities provider's stock, valued at approximately $387,000.

Several other hedge funds have also made changes to their positions in IDT. Cerity Partners LLC increased its stake in IDT by 121.7% during the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider's stock worth $3,653,000 after buying an additional 52,532 shares during the period. Bank of New York Mellon Corp grew its stake in shares of IDT by 76.3% in the fourth quarter. Bank of New York Mellon Corp now owns 111,536 shares of the utilities provider's stock worth $5,300,000 after acquiring an additional 48,288 shares in the last quarter. Geode Capital Management LLC increased its position in shares of IDT by 6.5% during the third quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider's stock worth $16,077,000 after acquiring an additional 25,541 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of IDT in the fourth quarter valued at $1,018,000. Finally, Barclays PLC boosted its holdings in IDT by 240.3% in the third quarter. Barclays PLC now owns 27,066 shares of the utilities provider's stock valued at $1,034,000 after purchasing an additional 19,112 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

IDT Trading Down 1.6 %

NYSE:IDT traded down $0.85 during mid-day trading on Friday, hitting $51.80. The stock had a trading volume of 78,077 shares, compared to its average volume of 90,681. IDT Co. has a twelve month low of $33.84 and a twelve month high of $58.77. The stock has a 50-day simple moving average of $48.77 and a two-hundred day simple moving average of $47.22. The company has a market capitalization of $1.31 billion, a PE ratio of 17.74 and a beta of 0.84.

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

IDT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. This is an increase from IDT's previous quarterly dividend of $0.05. The ex-dividend date was Monday, March 17th. IDT's payout ratio is 7.62%.

Insider Transactions at IDT

In other news, CTO David Wartell sold 10,735 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 25.32% of the company's stock.

Wall Street Analyst Weigh In

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

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.