Aperio Group LLC increased its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 18.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,334 shares of the utilities provider’s stock after purchasing an additional 1,309 shares during the quarter. Aperio Group LLC’s holdings in Otter Tail were worth $361,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in Otter Tail by 6.5% in the fourth quarter. Victory Capital Management Inc. now owns 25,529 shares of the utilities provider’s stock worth $1,135,000 after buying an additional 1,547 shares during the period. Old Mutual Global Investors UK Ltd. increased its position in Otter Tail by 28.4% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 8,011 shares of the utilities provider’s stock worth $356,000 after buying an additional 1,771 shares during the period. Swiss National Bank increased its position in Otter Tail by 4.2% in the first quarter. Swiss National Bank now owns 62,100 shares of the utilities provider’s stock worth $2,692,000 after buying an additional 2,500 shares during the period. Goldman Sachs Group Inc. increased its position in Otter Tail by 7.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 39,629 shares of the utilities provider’s stock worth $1,761,000 after buying an additional 2,820 shares during the period. Finally, SG Americas Securities LLC increased its position in Otter Tail by 105.5% in the first quarter. SG Americas Securities LLC now owns 6,605 shares of the utilities provider’s stock worth $286,000 after buying an additional 3,391 shares during the period. Hedge funds and other institutional investors own 42.82% of the company’s stock.
Several equities research analysts have weighed in on OTTR shares. BidaskClub raised Otter Tail from a “hold” rating to a “buy” rating in a research report on Wednesday, March 21st. ValuEngine lowered Otter Tail from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research raised Otter Tail from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Friday, May 11th. Finally, Williams Capital lowered Otter Tail from a “hold” rating to a “sell” rating and set a $42.00 target price on the stock. in a research report on Thursday, May 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $45.67.
Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, May 7th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The company had revenue of $241.30 million for the quarter, compared to analyst estimates of $224.90 million. Otter Tail had a return on equity of 11.57% and a net margin of 9.02%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. sell-side analysts anticipate that Otter Tail Co. will post 2 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, June 9th. Stockholders of record on Tuesday, May 15th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, May 14th. Otter Tail’s dividend payout ratio (DPR) is 72.04%.
In other news, CFO Kevin G. Moug sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $43.48, for a total transaction of $65,220.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.
About Otter Tail
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.
Want to see what other hedge funds are holding OTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otter Tail Co. (NASDAQ:OTTR).
Receive News & Ratings for Otter Tail Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail and related companies with MarketBeat.com's FREE daily email newsletter.