First Trust Advisors LP lifted its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 6.8% during the 4th quarter, Holdings Channel reports. The firm owned 538,954 shares of the utilities provider’s stock after buying an additional 34,238 shares during the quarter. First Trust Advisors LP’s holdings in Otter Tail were worth $23,957,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Otter Tail during the third quarter worth about $107,000. Ameritas Investment Partners Inc. grew its holdings in shares of Otter Tail by 9.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 309 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Otter Tail during the third quarter worth about $212,000. Old Mutual Global Investors UK Ltd. grew its holdings in shares of Otter Tail by 129.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 6,240 shares of the utilities provider’s stock worth $270,000 after purchasing an additional 3,517 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Otter Tail by 8.8% during the second quarter. Ameriprise Financial Inc. now owns 6,989 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 565 shares during the last quarter. Institutional investors own 41.58% of the company’s stock.
In related news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $40.55, for a total value of $60,825.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by insiders.
Otter Tail Co. (OTTR) opened at $40.90 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1,640.00, a P/E ratio of 21.99 and a beta of 0.71. Otter Tail Co. has a 12 month low of $35.65 and a 12 month high of $48.65.
Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, February 12th. The utilities provider reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. The company had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.30 million. Otter Tail had a return on equity of 10.73% and a net margin of 8.53%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. analysts predict that Otter Tail Co. will post 1.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Thursday, February 15th will be paid a $0.335 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, February 14th. Otter Tail’s payout ratio is currently 72.04%.
Several analysts have recently weighed in on OTTR shares. Zacks Investment Research upgraded Otter Tail from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, November 7th. BidaskClub lowered Otter Tail from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, Sidoti lowered Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating, Otter Tail currently has an average rating of “Hold” and a consensus target price of $44.67.
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Otter Tail Company Profile
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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