KLP Kapitalforvaltning AS Decreases Stake in IDT Corporation (NYSE:IDT)

KLP Kapitalforvaltning AS cut its stake in IDT Corporation (NYSE:IDT) by 46.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,400 shares of the utilities provider’s stock after selling 4,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in IDT were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of IDT by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,265,815 shares of the utilities provider’s stock worth $60,152,000 after buying an additional 4,426 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of IDT by 0.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider’s stock valued at $26,376,000 after acquiring an additional 2,768 shares during the period. Geode Capital Management LLC raised its stake in IDT by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 426,442 shares of the utilities provider’s stock worth $20,269,000 after acquiring an additional 5,346 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in IDT by 6.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 351,588 shares of the utilities provider’s stock worth $16,707,000 after acquiring an additional 22,528 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in IDT by 32.4% during the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider’s stock worth $15,711,000 after acquiring an additional 80,817 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Stock Up 1.4%

Shares of NYSE IDT opened at $58.99 on Friday. IDT Corporation has a 52 week low of $33.84 and a 52 week high of $71.12. The business’s 50 day moving average price is $62.87 and its 200 day moving average price is $54.54. The firm has a market cap of $1.49 billion, a P/E ratio of 15.56 and a beta of 0.73.

IDT (NYSE:IDT) last announced its quarterly earnings data on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The business had revenue of $301.98 million during the quarter. IDT had a net margin of 7.85% and a return on equity of 26.38%.

IDT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 9th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. IDT’s dividend payout ratio is currently 6.33%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th.

IDT 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.