Northern Trust Corp Grows Position in IDT Co. (NYSE:IDT)

Northern Trust Corp increased its holdings in IDT Co. (NYSE:IDT - Free Report) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,739 shares of the utilities provider's stock after purchasing an additional 7,968 shares during the quarter. Northern Trust Corp owned approximately 0.67% of IDT worth $8,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IDT. Proficio Capital Partners LLC purchased a new position in shares of IDT during the fourth quarter valued at approximately $1,018,000. JPMorgan Chase & Co. increased its position in IDT by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider's stock valued at $2,133,000 after buying an additional 5,417 shares in the last quarter. New York State Common Retirement Fund raised its stake in 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 valued at $253,000 after buying an additional 1,100 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in IDT in the fourth quarter worth $286,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of IDT in the fourth quarter worth $201,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

IDT Stock Down 0.1%

IDT stock traded down $0.07 during trading hours on Friday, hitting $61.01. The stock had a trading volume of 134,772 shares, compared to its average volume of 99,972. The stock's 50-day moving average price is $52.20 and its 200-day moving average price is $49.99. The stock has a market capitalization of $1.54 billion, a P/E ratio of 20.89 and a beta of 0.69. IDT Co. has a 12-month low of $33.84 and a 12-month high of $62.53.

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

IDT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Monday, March 17th. This is an increase from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio (DPR) is presently 7.62%.

Insider Activity

In related news, CTO David Wartell sold 10,735 shares of the firm'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 SEC, which is available at this link. 25.32% of the stock is owned by corporate 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.