Victory Capital Management Inc. Buys 2,251 Shares of IDT Co. (NYSE:IDT)

Victory Capital Management Inc. grew its stake in IDT Co. (NYSE:IDT) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,564 shares of the utilities provider’s stock after acquiring an additional 2,251 shares during the quarter. Victory Capital Management Inc. owned 0.14% of IDT worth $1,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. increased its stake in shares of IDT by 272.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 13,396 shares of the utilities provider’s stock valued at $511,000 after acquiring an additional 9,796 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in IDT during the 4th quarter worth approximately $1,018,000. JPMorgan Chase & Co. increased its stake in IDT by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider’s stock worth $2,133,000 after purchasing an additional 5,417 shares in the last quarter. Barclays PLC increased its stake in IDT by 240.3% during the 3rd quarter. Barclays PLC now owns 27,066 shares of the utilities provider’s stock worth $1,034,000 after purchasing an additional 19,112 shares in the last quarter. Finally, 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 purchasing an additional 52,532 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

IDT Stock Performance

NYSE IDT opened at $50.28 on Wednesday. The business has a 50 day simple moving average of $48.01 and a 200 day simple moving average of $46.53. IDT Co. has a 52-week low of $33.84 and a 52-week high of $58.77. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 17.22 and a beta of 0.84.

IDT (NYSE:IDT) last released its quarterly earnings results 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 firm had revenue of $303.35 million during the quarter.

IDT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. This is an increase from IDT’s previous quarterly dividend of $0.05. IDT’s dividend payout ratio is 7.62%.

Insiders Place Their Bets

In other IDT news, CTO David Wartell sold 17,116 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.