Los Angeles Capital Management LLC increased its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 29.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,381 shares of the utilities provider's stock after purchasing an additional 7,740 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of Otter Tail worth $2,539,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC lifted its position in shares of Otter Tail by 2.8% in the fourth quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider's stock valued at $356,000 after buying an additional 131 shares during the last quarter. Hancock Whitney Corp lifted its stake in shares of Otter Tail by 2.9% during the 3rd quarter. Hancock Whitney Corp now owns 4,946 shares of the utilities provider's stock worth $387,000 after buying an additional 139 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Otter Tail by 6.6% during the 3rd quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider's stock worth $204,000 after buying an additional 162 shares during the period. D.A. Davidson & CO. grew its stake in Otter Tail by 3.8% in the 4th quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider's stock valued at $514,000 after buying an additional 253 shares during the last quarter. Finally, KBC Group NV raised its holdings in Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock valued at $98,000 after acquiring an additional 272 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
OTTR has been the topic of several research reports. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 6th.
Check Out Our Latest Stock Analysis on Otter Tail
Otter Tail Stock Performance
NASDAQ:OTTR traded up $1.16 during mid-day trading on Monday, reaching $80.89. 249,379 shares of the company's stock were exchanged, compared to its average volume of 238,487. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. The business's fifty day simple moving average is $77.45 and its two-hundred day simple moving average is $79.03. The firm has a market capitalization of $3.38 billion, a PE ratio of 11.28 and a beta of 0.57.
Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.04. The company had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. Analysts anticipate that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.
Otter Tail Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Friday, February 14th. This is an increase from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's payout ratio is 29.29%.
About Otter Tail
(
Free Report)
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.
Featured Articles
Before you consider Otter Tail, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Otter Tail wasn't on the list.
While Otter Tail currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
