KBC Group NV Grows Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

KBC Group NV lifted its stake in Otter Tail Co. (NASDAQ:OTTR) by 27.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,248 shares of the utilities provider’s stock after purchasing an additional 272 shares during the quarter. KBC Group NV’s holdings in Otter Tail were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTTR. Janus Henderson Group PLC boosted its stake in Otter Tail by 45.2% during the 1st quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider’s stock valued at $2,572,000 after purchasing an additional 9,270 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Otter Tail by 320.5% during the first quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider’s stock valued at $1,458,000 after buying an additional 12,865 shares during the last quarter. Jane Street Group LLC increased its holdings in Otter Tail by 57.2% in the 1st quarter. Jane Street Group LLC now owns 64,615 shares of the utilities provider’s stock worth $5,583,000 after buying an additional 23,514 shares in the last quarter. GSA Capital Partners LLP raised its position in Otter Tail by 285.1% in the 3rd quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider’s stock worth $1,487,000 after buying an additional 14,089 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in Otter Tail during the 1st quarter valued at about $271,000. Institutional investors own 61.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on OTTR shares. 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. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $80.78 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.38 billion, a PE ratio of 11.16 and a beta of 0.52. The firm’s 50 day moving average price is $78.88 and its 200-day moving average price is $85.27. Otter Tail Co. has a twelve month low of $73.43 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share 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 analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter last year, the company posted $2.19 EPS. Equities research analysts expect that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.468 dividend. This represents a $1.87 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is currently 25.83%.

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.