Royce & Associates LP Sells 6,470 Shares of IDT Co. (NYSE:IDT)

Royce & Associates LP trimmed its holdings in shares of IDT Co. (NYSE:IDT) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 591,849 shares of the utilities provider’s stock after selling 6,470 shares during the period. Royce & Associates LP owned approximately 2.34% of IDT worth $28,125,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of IDT during the 4th quarter worth approximately $201,000. Arizona State Retirement System bought a new position in shares of IDT in the 4th quarter worth $229,000. Proficio Capital Partners LLC bought a new position in shares of IDT in the 4th quarter worth $1,018,000. Victory Capital Management Inc. lifted its holdings in shares of IDT by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 36,564 shares of the utilities provider’s stock worth $1,738,000 after purchasing an additional 2,251 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of IDT by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 162,665 shares of the utilities provider’s stock worth $7,730,000 after purchasing an additional 4,857 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.32% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut IDT from a “strong-buy” rating to a “buy” rating in a report on Monday, March 10th.

IDT Trading Down 1.9 %

NYSE IDT opened at $46.66 on Monday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 15.98 and a beta of 0.83. The business has a fifty day simple moving average of $47.88 and a 200 day simple moving average of $46.37. IDT Co. has a 12 month low of $33.84 and a 12 month high of $58.77.

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

IDT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders 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 is a positive change from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. IDT’s dividend payout ratio (DPR) is currently 7.62%.

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.