Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 993,360 shares of the utilities provider’s stock after selling 11,589 shares during the period. Geode Capital Management LLC owned approximately 2.37% of Otter Tail worth $77,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning increased its holdings in shares of Otter Tail by 2.2% during the 2nd quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock worth $550,000 after buying an additional 137 shares during the last quarter. Hancock Whitney Corp increased its stake in Otter Tail by 2.9% during the third quarter. Hancock Whitney Corp now owns 4,946 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 139 shares during the last quarter. Foster & Motley Inc. raised its position in Otter Tail by 1.5% in the second quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock valued at $863,000 after purchasing an additional 149 shares during the period. Quantinno Capital Management LP raised its position in Otter Tail by 6.6% in the third quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 162 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Otter Tail by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock valued at $922,000 after purchasing an additional 208 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OTTR. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Stock Up 0.3 %

NASDAQ:OTTR opened at $75.17 on Friday. The stock’s fifty day moving average is $79.10 and its two-hundred day moving average is $83.42. Otter Tail Co. has a 52 week low of $73.26 and a 52 week high of $100.84. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 10.38 and a beta of 0.54. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (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 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 in the prior year, the company earned $2.19 earnings per share. Research analysts anticipate that Otter Tail Co. will post 7.13 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Friday, November 15th. Otter Tail’s dividend payout ratio 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.