KLP Kapitalforvaltning AS Has $277,000 Holdings in IDT Corporation (NYSE:IDT)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in IDT Corporation by 46% during the first quarter, holding now 5,400 shares worth approximately $277,000.
• IDT recently announced a quarterly dividend of $0.06 per share, which translates to an annualized dividend yield of 0.4%.
• Analyst ratings for IDT have changed, with Wall Street Zen downgrading its outlook from "strong-buy" to "buy" as of mid-June.

KLP Kapitalforvaltning AS decreased its position in shares of IDT Corporation (NYSE:IDT - Free Report) by 46.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the utilities provider's stock after selling 4,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in IDT were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of IDT by 209.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider's stock worth $4,451,000 after purchasing an additional 58,727 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of IDT by 0.5% in the first 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 bought a new stake in shares of IDT in the fourth quarter worth $206,000. Assenagon Asset Management S.A. bought a new stake in shares of IDT in the first quarter worth $1,063,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of IDT by 3.6% in 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 in the last quarter. Institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of IDT from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th.

IDT Stock Down 1.5%

Shares of IDT stock traded down $0.86 during trading on Friday, reaching $58.05. The company's stock had a trading volume of 125,173 shares, compared to its average volume of 186,238. The business has a fifty day moving average price of $62.81 and a 200-day moving average price of $54.62. IDT Corporation has a one year low of $33.84 and a one year high of $71.12. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 15.32 and a beta of 0.74.

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

IDT Dividend Announcement

The company 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 (DPR) is currently 6.33%.

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.