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 purchased a new position in IDT Corporation (NYSE:IDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 202,856 shares of the utilities provider's stock, valued at approximately $10,409,000. Nuveen LLC owned 0.80% of IDT at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IDT. Park Square Financial Group LLC purchased a new position in shares of IDT in the 4th quarter worth approximately $44,000. Copeland Capital Management LLC acquired a new stake in IDT during the 1st quarter valued at approximately $57,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in IDT during the 4th quarter valued at approximately $180,000. Raymond James Financial Inc. acquired a new stake in IDT during the 4th quarter valued at approximately $201,000. Finally, ProShare Advisors LLC acquired a new position in shares of IDT in the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analysts Set New Price Targets

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

IDT Price Performance

Shares of IDT traded down $0.49 during mid-day trading on Tuesday, reaching $62.69. The stock had a trading volume of 117,713 shares, compared to its average volume of 144,585. IDT Corporation has a 52-week low of $36.12 and a 52-week high of $71.12. The business's fifty day moving average is $62.27 and its 200 day moving average is $56.25. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 16.54 and a beta of 0.74.

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. IDT had a net margin of 7.85% and a return on equity of 26.38%. The company had revenue of $301.98 million for the quarter.

IDT Announces Dividend

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

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.