IDT Corporation (NYSE:IDT) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in IDT Corporation (NYSE:IDT) by 11.3% during the first quarter, HoldingsChannel.com reports. The fund owned 2,163 shares of the utilities provider’s stock after selling 275 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in IDT were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IDT. Emmett Investment Management LP acquired a new position in IDT during the fourth quarter worth $5,257,000. Deutsche Bank AG boosted its stake in IDT by 32.4% during the fourth quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider’s stock worth $15,711,000 after buying an additional 80,817 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in IDT by 209.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider’s stock worth $4,451,000 after buying an additional 58,727 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in IDT by 101.5% during the fourth quarter. JPMorgan Chase & Co. now owns 112,614 shares of the utilities provider’s stock worth $5,351,000 after buying an additional 56,738 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in IDT by 55.3% during the first quarter. Cerity Partners LLC now owns 146,876 shares of the utilities provider’s stock worth $7,536,000 after buying an additional 52,281 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

IDT Stock Down 0.6%

NYSE:IDT opened at $62.72 on Friday. IDT Corporation has a 52 week low of $35.58 and a 52 week high of $71.12. The company has a market capitalization of $1.58 billion, a P/E ratio of 16.55 and a beta of 0.74. The stock’s fifty day moving average is $62.76 and its two-hundred day moving average is $55.41.

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

IDT Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.4%. IDT’s dividend payout ratio is currently 6.33%.

Analyst Ratings Changes

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.