Virtu Financial LLC Buys New Holdings in Otter Tail Co. (NASDAQ:OTTR)

Virtu Financial LLC purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,097 shares of the utilities provider's stock, valued at approximately $711,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hoese & Co LLP acquired a new position in shares of Otter Tail during the third quarter worth approximately $39,000. Allworth Financial LP lifted its holdings in Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock worth $43,000 after buying an additional 312 shares in the last quarter. Quarry LP boosted its position in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider's stock valued at $59,000 after buying an additional 634 shares during the last quarter. KBC Group NV increased its stake in shares of 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 buying an additional 272 shares during the period. Finally, Abound Wealth Management raised its position in shares of Otter Tail by 28,725.0% during the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider's stock worth $101,000 after acquiring an additional 1,149 shares during the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OTTR. 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 Trading Down 0.9 %

OTTR traded down $0.72 during trading on Friday, reaching $75.88. 202,099 shares of the company's stock were exchanged, compared to its average volume of 231,727. The company's fifty day moving average price is $79.15 and its 200-day moving average price is $83.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The firm has a market capitalization of $3.17 billion, a PE ratio of 10.48 and a beta of 0.54. Otter Tail Co. has a fifty-two week low of $73.43 and a fifty-two week high of $100.84.

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 during 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 company posted $2.19 earnings per share. As a group, equities analysts forecast that Otter Tail Co. will post 7.13 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a dividend of $0.468 per share. The ex-dividend date was Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.47%. Otter Tail's payout ratio is 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.