Charles Schwab Investment Management Inc. Grows Stock Holdings in Otter Tail Corporation $OTTR

Charles Schwab Investment Management Inc. boosted its holdings in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 551,338 shares of the utilities provider's stock after buying an additional 14,793 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.32% of Otter Tail worth $44,311,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC grew its position in Otter Tail by 54.8% during the first quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider's stock valued at $31,000 after buying an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in Otter Tail during the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in shares of Otter Tail in the fourth quarter worth approximately $36,000. AdvisorNet Financial Inc boosted its position in shares of Otter Tail by 120.0% in the first quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider's stock worth $44,000 after purchasing an additional 300 shares during the period. Finally, Studio Investment Management LLC bought a new position in shares of Otter Tail in the fourth quarter worth approximately $50,000. 61.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Siebert Williams Shank raised shares of Otter Tail from a "hold" rating to a "buy" rating and boosted their target price for the stock from $82.00 to $83.00 in a report on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Otter Tail has a consensus rating of "Buy" and an average target price of $83.00.

Otter Tail Trading Up 2.8%

Shares of OTTR traded up $2.2940 during midday trading on Friday, hitting $85.3840. The stock had a trading volume of 24,784 shares, compared to its average volume of 234,083. Otter Tail Corporation has a 1 year low of $71.66 and a 1 year high of $92.51. The firm has a market cap of $3.58 billion, a PE ratio of 12.50 and a beta of 0.56. 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 stock's 50 day moving average is $78.83 and its 200 day moving average is $79.03.

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

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 15th. Otter Tail's payout ratio is 30.88%.

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.