Proficio Capital Partners LLC Takes Position in IDT Co. (NYSE:IDT)

Proficio Capital Partners LLC acquired a new stake in IDT Co. (NYSE:IDT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,432 shares of the utilities provider’s stock, valued at approximately $1,018,000.

Several other large investors also recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of IDT by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 36,564 shares of the utilities provider’s stock valued at $1,738,000 after purchasing an additional 2,251 shares during the period. Charles Schwab Investment Management Inc. increased its position in IDT by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 162,665 shares of the utilities provider’s stock worth $7,730,000 after acquiring an additional 4,857 shares during the period. Bailard Inc. bought a new position in IDT during the fourth quarter worth about $220,000. Bank of New York Mellon Corp increased its position in IDT by 76.3% during the fourth quarter. Bank of New York Mellon Corp now owns 111,536 shares of the utilities provider’s stock worth $5,300,000 after acquiring an additional 48,288 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its position in IDT by 32.0% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 10,352 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 2,512 shares during the period. 59.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other IDT news, CTO David Wartell sold 10,735 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.32% of the company’s stock.

IDT Stock Performance

NYSE:IDT opened at $50.60 on Friday. IDT Co. has a 52 week low of $33.84 and a 52 week high of $58.77. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 17.33 and a beta of 0.84. The firm’s 50-day simple moving average is $48.29 and its 200 day simple moving average is $46.67.

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

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. This is an increase from IDT’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 17th. IDT’s dividend payout ratio is presently 7.62%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of IDT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

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.