Harbor Capital Advisors Inc. Decreases Stake in IDT Co. (NYSE:IDT)

Harbor Capital Advisors Inc. reduced its position in IDT Co. (NYSE:IDT) by 72.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,106 shares of the utilities provider’s stock after selling 8,297 shares during the period. Harbor Capital Advisors Inc.’s holdings in IDT were worth $159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in IDT by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider’s stock valued at $417,000 after buying an additional 303 shares during the last quarter. Rhumbline Advisers increased its holdings in IDT by 1.2% in the first quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider’s stock valued at $1,346,000 after buying an additional 320 shares during the last quarter. Principal Financial Group Inc. raised its stake in IDT by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 6,097 shares of the utilities provider’s stock valued at $290,000 after buying an additional 477 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in IDT by 35.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock valued at $116,000 after buying an additional 632 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in IDT by 7.4% during the 4th quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider’s stock worth $442,000 after buying an additional 643 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Insider Buying and Selling

In related news, CTO David Wartell sold 10,735 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 25.32% of the company’s stock.

IDT Stock Up 1.8%

NYSE:IDT opened at $65.90 on Monday. The business’s 50 day moving average is $55.78 and its two-hundred day moving average is $51.26. IDT Co. has a 52 week low of $33.84 and a 52 week high of $69.67. The company has a market cap of $1.66 billion, a PE ratio of 22.57 and a beta of 0.72.

IDT (NYSE:IDT) last released its earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The company had revenue of $301.98 million for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 9th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. IDT’s dividend payout ratio (DPR) is 6.33%.

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.