Renaissance Technologies LLC Sells 44,241 Shares of IDT Co. (NYSE:IDT)

Renaissance Technologies LLC lowered its holdings in IDT Co. (NYSE:IDT - Free Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,080,706 shares of the utilities provider's stock after selling 44,241 shares during the quarter. Renaissance Technologies LLC owned 4.28% of IDT worth $51,355,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Invesco Ltd. grew its holdings in IDT by 5.9% in the fourth quarter. Invesco Ltd. now owns 28,627 shares of the utilities provider's stock valued at $1,360,000 after purchasing an additional 1,594 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of IDT by 66.8% in the fourth quarter. Wells Fargo & Company MN now owns 13,271 shares of the utilities provider's stock valued at $631,000 after purchasing an additional 5,313 shares during the period. Geode Capital Management LLC lifted its holdings in shares of IDT by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 426,442 shares of the utilities provider's stock valued at $20,269,000 after buying an additional 5,346 shares during the period. Franklin Resources Inc. purchased a new stake in shares of IDT during the fourth quarter valued at $675,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of IDT by 23.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 22,234 shares of the utilities provider's stock worth $1,057,000 after purchasing an additional 4,212 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

IDT Stock Up 0.9 %

NYSE IDT traded up $0.45 during trading on Wednesday, reaching $49.54. 11,293 shares of the stock traded hands, compared to its average volume of 92,729. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 16.97 and a beta of 0.58. The stock's 50-day moving average price is $49.20 and its 200 day moving average price is $48.21. IDT Co. has a fifty-two week low of $33.84 and a fifty-two week high of $58.77.

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

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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, March 17th. This is a positive change from IDT's previous quarterly dividend of $0.05. IDT's payout ratio is 7.62%.

Analysts Set New Price Targets

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

Insider Buying and Selling 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 25.32% of the company's stock.

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.