Northern Trust Corp Has $8.02 Million Position in IDT Co. (NYSE:IDT)

Northern Trust Corp boosted its position in IDT Co. (NYSE:IDT - Free Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,739 shares of the utilities provider's stock after acquiring an additional 7,968 shares during the quarter. Northern Trust Corp owned 0.67% of IDT worth $8,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of IDT by 35.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock worth $116,000 after buying an additional 632 shares during the last quarter. Quantbot Technologies LP acquired a new position in IDT during the fourth quarter worth about $129,000. New Age Alpha Advisors LLC bought a new position in shares of IDT in the fourth quarter worth about $134,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of IDT in the 4th quarter valued at approximately $200,000. Finally, Raymond James Financial Inc. bought a new stake in shares of IDT during the 4th quarter valued at approximately $201,000. 59.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

IDT Stock Up 0.6%

Shares of NYSE:IDT traded up $0.38 during trading on Thursday, hitting $61.03. 123,492 shares of the company were exchanged, compared to its average volume of 99,197. IDT Co. has a 1-year low of $33.84 and a 1-year high of $62.53. The company has a market capitalization of $1.54 billion, a P/E ratio of 20.90 and a beta of 0.69. The business's 50 day moving average is $51.74 and its 200-day moving average is $49.79.

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

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. This is an increase from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio is currently 7.62%.

Insider Activity at IDT

In other IDT news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.32% of the stock is owned by company insiders.

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.