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Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Principal Financial Group Inc.

Otter Tail logo with Utilities background

Principal Financial Group Inc. trimmed its position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,899 shares of the utilities provider's stock after selling 10,784 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of Otter Tail worth $16,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OTTR. Bank of New York Mellon Corp boosted its stake in shares of Otter Tail by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider's stock valued at $38,102,000 after purchasing an additional 4,862 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Otter Tail by 4.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,980 shares of the utilities provider's stock valued at $699,000 after acquiring an additional 373 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Otter Tail by 96.6% in the second quarter. Harbour Investments Inc. now owns 4,088 shares of the utilities provider's stock valued at $358,000 after purchasing an additional 2,009 shares during the period. International Assets Investment Management LLC acquired a new position in Otter Tail during the 2nd quarter worth $195,000. Finally, Aptus Capital Advisors LLC increased its holdings in Otter Tail by 24.7% during the 2nd quarter. Aptus Capital Advisors LLC now owns 56,011 shares of the utilities provider's stock worth $4,906,000 after purchasing an additional 11,103 shares during the period. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Down 1.4 %

NASDAQ:OTTR traded down $1.04 during trading hours on Friday, hitting $74.76. The company's stock had a trading volume of 150,527 shares, compared to its average volume of 233,882. Otter Tail Co. has a 52-week low of $73.26 and a 52-week 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. The stock has a market capitalization of $3.13 billion, a P/E ratio of 10.33 and a beta of 0.54. The stock has a fifty day moving average of $78.72 and a 200-day moving average of $82.92.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released 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. The business had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same quarter in the prior year, the business posted $2.19 EPS. On average, equities analysts forecast that Otter Tail Co. will post 7.13 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were issued a $0.468 dividend. This represents a $1.87 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, November 15th. Otter Tail's payout ratio is 25.83%.

Analyst Ratings Changes

Several brokerages have recently issued reports on OTTR. StockNews.com upgraded Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Siebert Williams Shank upgraded shares of Otter Tail from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 6th.

Check Out Our Latest Analysis on Otter Tail

Otter Tail Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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