Otter Tail Co. (NASDAQ:OTTR) Shares Bought by Covestor Ltd

Covestor Ltd grew its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,563 shares of the utilities provider’s stock after buying an additional 439 shares during the quarter. Covestor Ltd’s holdings in Otter Tail were worth $122,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. James Investment Research Inc. raised its holdings in Otter Tail by 6.1% during the third quarter. James Investment Research Inc. now owns 8,302 shares of the utilities provider’s stock worth $649,000 after purchasing an additional 475 shares in the last quarter. Allworth Financial LP increased its position in Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares during the period. International Assets Investment Management LLC raised its stake in shares of Otter Tail by 3,339.9% during the 3rd quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after buying an additional 74,212 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Otter Tail by 3.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 42,095 shares of the utilities provider’s stock valued at $3,290,000 after buying an additional 1,249 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Otter Tail by 4.6% in the third quarter. Whittier Trust Co. now owns 81,749 shares of the utilities provider’s stock valued at $6,388,000 after buying an additional 3,609 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Up 3.0 %

OTTR opened at $81.43 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.67 and a current ratio of 2.17. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 11.25 and a beta of 0.52. Otter Tail Co. has a one year low of $73.43 and a one year high of $100.84. The business’s fifty day moving average is $78.62 and its two-hundred day moving average is $85.64.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.97 by $0.06. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same period in the previous year, the firm earned $2.19 EPS. Analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s payout ratio is currently 25.83%.

Analysts Set New Price Targets

OTTR has been the subject of a number of recent analyst reports. StockNews.com downgraded Otter Tail from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Otter Tail Company Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.