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

Allspring Global Investments Holdings LLC grew its stake in shares of IDT Corporation (NYSE:IDT - Free Report) by 209.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,741 shares of the utilities provider's stock after buying an additional 58,727 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.34% of IDT worth $4,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDT. Principal Financial Group Inc. grew its stake in shares of 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 during the last quarter. Bank of New York Mellon Corp grew its stake in shares of IDT by 76.3% in the fourth quarter. Bank of New York Mellon Corp now owns 111,536 shares of the utilities provider's stock worth $5,300,000 after purchasing an additional 48,288 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of IDT in the fourth quarter worth about $1,018,000. Charles Schwab Investment Management Inc. grew its stake in shares of IDT by 3.1% in the fourth 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 during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of IDT by 6.6% in the fourth 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 during the last quarter. 59.34% of the stock is owned by institutional investors.

IDT Stock Performance

Shares of NYSE IDT traded down $0.98 during trading hours on Wednesday, hitting $64.85. The company's stock had a trading volume of 307,581 shares, compared to its average volume of 118,242. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 17.11 and a beta of 0.73. IDT Corporation has a 12 month low of $33.84 and a 12 month high of $71.12. The business has a 50-day simple moving average of $62.44 and a 200-day simple moving average of $53.32.

IDT (NYSE:IDT - Get Free Report) last posted its earnings results on Thursday, June 5th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter. The company had revenue of $301.98 million for the quarter. IDT had a return on equity of 26.38% and a net margin of 7.85%.

IDT Dividend Announcement

The company also recently disclosed 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 0.37%. IDT's payout ratio is 6.33%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut IDT from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th.

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.