Caisse DE Depot ET Placement DU Quebec Takes Position in Otter Tail Co. (NASDAQ:OTTR)

Caisse DE Depot ET Placement DU Quebec bought a new stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 82,961 shares of the utilities provider's stock, valued at approximately $6,484,000. Caisse DE Depot ET Placement DU Quebec owned about 0.20% of Otter Tail as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Otter Tail by 3,339.9% during the 3rd 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 in the last quarter. Edgestream Partners L.P. boosted its stake in shares of Otter Tail by 2,055.2% during the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider's stock valued at $5,929,000 after purchasing an additional 64,554 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Otter Tail during the third quarter worth about $2,947,000. Victory Capital Management Inc. increased its stake in shares of Otter Tail by 100.1% in the third quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider's stock valued at $5,590,000 after buying an additional 35,783 shares during the period. Finally, OneAscent Financial Services LLC acquired a new position in shares of Otter Tail in the third quarter valued at approximately $1,935,000. Institutional investors and hedge funds own 61.32% of the company's stock.

Analyst Upgrades and Downgrades

OTTR has been the topic of a number of research reports. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a "sell" rating to a "hold" rating in a report on Thursday, November 14th.

Otter Tail Trading Down 0.2 %

Shares of Otter Tail stock traded down $0.15 during midday trading on Tuesday, reaching $80.74. The company had a trading volume of 128,086 shares, compared to its average volume of 232,967. The stock has a fifty day moving average price of $79.11 and a 200 day moving average price of $84.56. Otter Tail Co. has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The firm has a market cap of $3.38 billion, a PE ratio of 11.15 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS 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 in the prior year, the firm posted $2.19 EPS. On average, equities analysts anticipate that Otter Tail Co. will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.468 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.32%. Otter Tail's 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.