Nuveen Asset Management LLC Has $5.13 Million Position in IDT Co. (NYSE:IDT)

Nuveen Asset Management LLC raised its stake in IDT Co. (NYSE:IDT - Free Report) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,926 shares of the utilities provider's stock after acquiring an additional 17,035 shares during the period. Nuveen Asset Management LLC owned about 0.43% of IDT worth $5,129,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of IDT during the fourth quarter worth $1,018,000. New York State Common Retirement Fund grew its holdings in shares of IDT by 26.0% during the fourth quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider's stock worth $253,000 after purchasing an additional 1,100 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of IDT during the fourth quarter worth $286,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of IDT by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider's stock worth $417,000 after purchasing an additional 303 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of IDT during the fourth quarter worth $201,000. 59.34% of the stock is currently owned by institutional investors.

IDT Price Performance

Shares of IDT stock traded down $0.26 during trading hours on Wednesday, hitting $58.73. 191,196 shares of the company's stock were exchanged, compared to its average volume of 102,217. The stock's 50-day moving average is $53.68 and its 200-day moving average is $50.57. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 20.11 and a beta of 0.69. IDT Co. has a 52 week low of $33.84 and a 52 week high of $62.97.

IDT (NYSE:IDT - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The business had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 17th. This is a positive change from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio is 7.62%.

Insider Activity

In other news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 25.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded IDT from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

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.