HighTower Advisors LLC Has $440,000 Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

HighTower Advisors LLC reduced its stake in Otter Tail Co. (NASDAQ:OTTR) by 21.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,627 shares of the utilities provider’s stock after selling 1,558 shares during the quarter. HighTower Advisors LLC’s holdings in Otter Tail were worth $440,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Otter Tail during the third quarter worth $6,484,000. International Assets Investment Management LLC boosted its position in Otter Tail by 3,339.9% during the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock valued at $5,974,000 after acquiring an additional 74,212 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Otter Tail by 2,055.2% during the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock worth $5,929,000 after acquiring an additional 64,554 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Otter Tail in the 3rd quarter worth about $2,947,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Otter Tail by 100.1% in the 3rd quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider’s stock valued at $5,590,000 after purchasing an additional 35,783 shares during the period. 61.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Otter Tail Stock Performance

OTTR opened at $75.17 on Friday. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 10.38 and a beta of 0.54. The company’s fifty day moving average price is $79.10 and its two-hundred day moving average price is $83.38. Otter Tail Co. has a 1-year low of $73.26 and a 1-year high of $100.84. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The company had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same period last year, the firm earned $2.19 earnings per share. On average, analysts expect that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a $0.468 dividend. This represents a $1.87 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was 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.