State Street Corp Increases Stock Holdings in IDT Co. (NYSE:IDT)

State Street Corp raised its holdings in IDT Co. (NYSE:IDT) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 390,145 shares of the utilities provider’s stock after buying an additional 2,071 shares during the quarter. State Street Corp owned about 1.55% of IDT worth $14,911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IDT. New York State Teachers Retirement System purchased a new stake in shares of IDT in the 3rd quarter valued at $54,000. Point72 Asset Management L.P. lifted its holdings in IDT by 176.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 2,300 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of IDT during the 2nd quarter worth approximately $203,000. Versor Investments LP acquired a new stake in shares of IDT in the 3rd quarter worth $213,000. Finally, Principal Financial Group Inc. grew its stake in shares of IDT by 9.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after buying an additional 625 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Bill Pereira sold 29,175 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $47.24, for a total transaction of $1,378,227.00. Following the sale, the chief operating officer now owns 40,000 shares in the company, valued at $1,889,600. This represents a 42.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marcelo Fischer sold 600 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $48.57, for a total value of $29,142.00. Following the completion of the sale, the chief financial officer now directly owns 37,573 shares in the company, valued at $1,824,920.61. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,582 shares of company stock valued at $1,686,308 in the last quarter. 25.32% of the stock is currently owned by company insiders.

IDT Trading Up 1.3 %

IDT stock opened at $47.68 on Wednesday. The company’s 50 day moving average is $49.30 and its two-hundred day moving average is $41.64. IDT Co. has a twelve month low of $32.08 and a twelve month high of $58.77. The stock has a market cap of $1.20 billion, a P/E ratio of 16.33 and a beta of 0.78.

IDT (NYSE:IDT) last announced its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. The company had revenue of $308.83 million during the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 24th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a yield of 0.42%. IDT’s dividend payout ratio (DPR) is presently 6.85%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

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.