Vanguard Group Inc. Has $66.12 Million Position in IDT Corporation $IDT

Key Points

• Vanguard Group Inc. has increased its holdings in IDT Corporation by 1.8%, now owning approximately 1,288,634 shares valued at $66.12 million.
• Several other institutional investors have also raised their stakes in IDT, with New Age Alpha Advisors LLC boosting its holdings by 59.3% during the first quarter.
• IDT reported earnings of $0.87 per share with revenue of $301.98 million for the last quarter, alongside announcing a quarterly dividend of $0.06 per share.

Vanguard Group Inc. increased its position in shares of IDT Corporation (NYSE:IDT - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,288,634 shares of the utilities provider's stock after purchasing an additional 22,819 shares during the period. Vanguard Group Inc. owned approximately 5.11% of IDT worth $66,120,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of IDT by 209.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider's stock worth $4,451,000 after buying an additional 58,727 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in IDT by 0.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider's stock worth $26,376,000 after purchasing an additional 2,768 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of IDT during the 4th quarter valued at about $206,000. Assenagon Asset Management S.A. purchased a new stake in shares of IDT during the 1st quarter valued at about $1,063,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of IDT by 3.6% during 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 period. Hedge funds and other institutional investors own 59.34% of the company's stock.

IDT Trading Down 1.1%

IDT stock traded down $0.74 during mid-day trading on Friday, hitting $64.03. The stock had a trading volume of 176,523 shares, compared to its average volume of 130,045. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 16.89 and a beta of 0.74. The company has a fifty day moving average of $62.10 and a 200 day moving average of $56.57. IDT Corporation has a 1-year low of $36.12 and a 1-year high of $71.12.

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

IDT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. IDT's payout ratio is currently 6.33%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered IDT from a "strong-buy" rating to a "buy" rating in a research 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.