Nuveen LLC Invests $10.41 Million in IDT Corporation $IDT

Key Points

• Nuveen LLC has invested approximately $10.41 million in IDT Corporation by purchasing 202,856 shares, representing a 0.80% ownership stake at the end of the reporting period.
• IDT recently declared a quarterly dividend of $0.06 per share, yielding 0.4%, with a low payout ratio of 6.33%.
• Analysts lowered IDT's rating from a "strong-buy" to a "buy," indicating a shift in their outlook on the stock's performance.

Nuveen LLC bought a new position in shares of IDT Corporation (NYSE:IDT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 202,856 shares of the utilities provider's stock, valued at approximately $10,409,000. Nuveen LLC owned approximately 0.80% of IDT as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of IDT by 209.6% during the 1st 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 boosted its stake in IDT by 0.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider's stock valued at $26,376,000 after buying an additional 2,768 shares in the last quarter. ProShare Advisors LLC acquired a new stake in IDT in the fourth quarter valued at about $206,000. Assenagon Asset Management S.A. acquired a new stake in IDT in the first quarter valued at about $1,063,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 valued at $417,000 after buying an additional 303 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

IDT Stock Up 2.2%

IDT stock traded up $1.38 during trading hours on Thursday, hitting $64.82. The stock had a trading volume of 107,094 shares, compared to its average volume of 131,807. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 17.10 and a beta of 0.74. IDT Corporation has a one year low of $36.12 and a one year high of $71.12. The business's 50 day simple moving average is $62.11 and its 200-day simple moving average is $56.46.

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

IDT Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.