Occudo Quantitative Strategies LP Raises Stock Position in IDT Co. (NYSE:IDT)

Occudo Quantitative Strategies LP lifted its position in IDT Co. (NYSE:IDT) by 25.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,398 shares of the utilities provider’s stock after buying an additional 1,880 shares during the period. Occudo Quantitative Strategies LP’s holdings in IDT were worth $447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDT. JPMorgan Chase & Co. grew its position in shares of IDT by 10.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider’s stock worth $2,133,000 after buying an additional 5,417 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of IDT in the 4th quarter worth approximately $200,000. Ritholtz Wealth Management grew its position in shares of IDT by 23.4% in the 4th quarter. Ritholtz Wealth Management now owns 15,392 shares of the utilities provider’s stock worth $731,000 after buying an additional 2,921 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of IDT in the 4th quarter worth approximately $286,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of IDT in the 4th quarter worth approximately $242,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Stock Up 2.5%

IDT stock opened at $59.03 on Friday. The firm has a 50 day moving average of $50.68 and a 200 day moving average of $49.39. The stock has a market capitalization of $1.49 billion, a PE ratio of 20.22 and a beta of 0.69. IDT Co. has a 52 week low of $33.84 and a 52 week high of $59.43.

IDT (NYSE:IDT) last released its earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. The company 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 announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.41%. IDT’s dividend payout ratio (DPR) is 7.62%.

Insider Buying and Selling

In other IDT news, CTO David Wartell sold 10,735 shares of IDT 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.32% of the stock is owned by company insiders.

Analyst Ratings Changes

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

About IDT

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.