IDT Co. (NYSE:IDT) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its holdings in IDT Co. (NYSE:IDT) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,595 shares of the utilities provider’s stock after selling 1,105 shares during the quarter. Cerity Partners LLC owned 0.37% of IDT worth $4,495,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in IDT by 35.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock valued at $116,000 after buying an additional 632 shares during the period. Quantbot Technologies LP purchased a new position in IDT during the fourth quarter worth about $129,000. New Age Alpha Advisors LLC acquired a new stake in shares of IDT during the fourth quarter valued at about $134,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of IDT in the 4th quarter valued at approximately $200,000. Finally, Raymond James Financial Inc. acquired a new position in shares of IDT in the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Activity

In related 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 transaction of $525,907.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 25.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th.

IDT Price Performance

Shares of IDT stock opened at $48.79 on Friday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 16.71 and a beta of 0.58. The business has a 50-day moving average of $49.16 and a 200 day moving average of $48.07. IDT Co. has a 12 month low of $33.84 and a 12 month high of $58.77.

IDT (NYSE:IDT) last announced its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 earnings per share for the quarter. The firm 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from IDT’s previous quarterly dividend of $0.05. IDT’s dividend payout ratio is currently 7.62%.

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.