Vest Financial LLC Has $3.18 Million Position in Otter Tail Corporation $OTTR

Vest Financial LLC raised its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 37.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,216 shares of the utilities provider’s stock after purchasing an additional 11,217 shares during the quarter. Vest Financial LLC owned 0.10% of Otter Tail worth $3,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OTTR. Adage Capital Partners GP L.L.C. purchased a new stake in Otter Tail in the 1st quarter worth approximately $17,681,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Otter Tail by 82.2% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 406,321 shares of the utilities provider’s stock worth $32,656,000 after buying an additional 183,316 shares in the last quarter. Nuveen LLC purchased a new stake in Otter Tail in the 1st quarter worth approximately $13,217,000. Denali Advisors LLC lifted its position in Otter Tail by 883.3% in the 1st quarter. Denali Advisors LLC now owns 67,959 shares of the utilities provider’s stock worth $5,462,000 after buying an additional 61,048 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Otter Tail by 190.8% in the 1st quarter. Jane Street Group LLC now owns 54,112 shares of the utilities provider’s stock worth $4,349,000 after buying an additional 35,505 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of OTTR opened at $78.16 on Wednesday. The company has a market capitalization of $3.28 billion, a PE ratio of 11.49 and a beta of 0.54. Otter Tail Corporation has a one year low of $71.66 and a one year high of $88.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.31 and a quick ratio of 2.57. The company’s fifty day moving average price is $82.01 and its 200 day moving average price is $79.43.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. The firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $329.60 million. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. As a group, analysts expect that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, August 15th. Otter Tail’s dividend payout ratio (DPR) is currently 30.88%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Otter Tail in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Otter Tail has an average rating of “Moderate Buy” and a consensus target price of $83.00.

About Otter Tail

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.