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

Allspring Global Investments Holdings LLC raised its stake in IDT Co. (NYSE:IDT) by 37.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,014 shares of the utilities provider’s stock after buying an additional 7,620 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of IDT worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in IDT in the 3rd quarter valued at about $54,000. Hennion & Walsh Asset Management Inc. purchased a new stake in IDT in the 4th quarter valued at about $200,000. Versor Investments LP purchased a new stake in IDT in the 3rd quarter valued at about $213,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in IDT in the 4th quarter valued at about $242,000. Finally, Verition Fund Management LLC bought a new stake in shares of IDT in the 3rd quarter valued at about $273,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Stock Performance

NYSE:IDT opened at $48.66 on Friday. IDT Co. has a one year low of $33.84 and a one year high of $58.77. The firm has a market cap of $1.23 billion, a P/E ratio of 16.66 and a beta of 0.80. The firm has a 50-day simple moving average of $47.72 and a 200-day simple moving average of $44.98.

IDT (NYSE:IDT) last posted its quarterly earnings results on Wednesday, December 4th. The utilities provider reported $0.69 EPS for 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 was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 0.42%. IDT’s dividend payout ratio is currently 6.85%.

Insider Buying and Selling

In related news, CTO David Wartell sold 17,116 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nadine Shea sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $53.74, for a total transaction of $53,740.00. Following the transaction, the executive vice president now owns 4,775 shares of the company’s stock, valued at approximately $256,608.50. This trade represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. 25.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 1st.

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.