Allspring Global Investments Holdings LLC Boosts Stock Position in IDT Co. (NYSE:IDT)

Allspring Global Investments Holdings LLC boosted its holdings in shares of IDT Co. (NYSE:IDT) by 146.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 22,973 shares of the utilities provider’s stock after acquiring an additional 13,659 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in IDT were worth $783,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Denali Advisors LLC lifted its holdings in shares of IDT by 131.5% in the 3rd quarter. Denali Advisors LLC now owns 12,500 shares of the utilities provider’s stock worth $276,000 after buying an additional 7,100 shares during the period. Adirondack Retirement Specialists Inc. lifted its holdings in shares of IDT by 9.2% in the 3rd quarter. Adirondack Retirement Specialists Inc. now owns 614,927 shares of the utilities provider’s stock worth $13,559,000 after buying an additional 51,694 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of IDT in the 3rd quarter worth $30,000. Panagora Asset Management Inc. lifted its holdings in shares of IDT by 3.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 66,275 shares of the utilities provider’s stock worth $1,461,000 after buying an additional 2,452 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of IDT by 63.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 34,263 shares of the utilities provider’s stock worth $756,000 after buying an additional 13,339 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Trading Down 1.0 %

Shares of IDT stock opened at $36.59 on Thursday. The stock has a market capitalization of $929.02 million, a price-to-earnings ratio of 25.23 and a beta of 0.97. IDT Co. has a twelve month low of $21.64 and a twelve month high of $38.68. The stock has a fifty day simple moving average of $37.09 and a two-hundred day simple moving average of $33.38.

IDT (NYSE:IDT) last issued its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share for the quarter. The firm had revenue of $296.10 million during the quarter. IDT had a return on equity of 20.18% and a net margin of 3.08%.

IDT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, March 18th. IDT’s dividend payout ratio (DPR) is currently 13.79%.

Analyst Ratings Changes

Separately, StockNews.com upgraded IDT from a “hold” rating to a “buy” rating in a report on Thursday, March 7th.

Insider Buying and Selling

In related news, CAO Mitch Silberman sold 2,115 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total transaction of $80,391.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Bill Pereira sold 15,647 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total transaction of $593,803.65. Following the transaction, the chief operating officer now directly owns 49,999 shares of the company’s stock, valued at approximately $1,897,462.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mitch Silberman sold 2,115 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $38.01, for a total value of $80,391.15. The disclosure for this sale can be found here. Insiders sold 18,192 shares of company stock worth $690,075 in the last three months. 15.00% of the stock is owned by insiders.

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.