Northern Trust Corp Has $39.79 Million Stake in Otter Tail Corporation $OTTR

Key Points

• Northern Trust Corp has reduced its stake in Otter Tail Corporation by 9.3%, selling 50,568 shares, leaving them with 495,050 shares worth approximately $39.79 million.
• Otter Tail recently reported earnings of $1.85 EPS for the quarter, surpassing analysts' expectations, with revenue of $333.04 million, though it reflects a 2.7% decline from the previous year.
• The company announced a quarterly dividend of $0.525 per share, resulting in an annualized dividend of $2.10 and a dividend yield of 2.5%.

Northern Trust Corp lessened its stake in Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 495,050 shares of the utilities provider's stock after selling 50,568 shares during the quarter. Northern Trust Corp owned approximately 1.18% of Otter Tail worth $39,787,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Compass Financial Group INC SD acquired a new stake in Otter Tail during the 1st quarter valued at $212,000. Raymond James Financial Inc. lifted its holdings in Otter Tail by 2.1% during the 1st quarter. Raymond James Financial Inc. now owns 36,957 shares of the utilities provider's stock valued at $2,970,000 after purchasing an additional 775 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in Otter Tail during the 1st quarter valued at $204,000. HighTower Advisors LLC lifted its holdings in Otter Tail by 7.7% during the 1st quarter. HighTower Advisors LLC now owns 5,599 shares of the utilities provider's stock valued at $450,000 after purchasing an additional 398 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Otter Tail by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 132,669 shares of the utilities provider's stock valued at $10,663,000 after purchasing an additional 28,491 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Performance

OTTR stock traded up $0.28 during trading hours on Wednesday, hitting $83.74. 110,721 shares of the stock were exchanged, compared to its average volume of 179,121. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.51 billion, a P/E ratio of 12.31 and a beta of 0.57. The company has a 50-day simple moving average of $80.18 and a two-hundred day simple moving average of $79.38. Otter Tail Corporation has a 12 month low of $71.66 and a 12 month high of $88.36.

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

Otter Tail Announces Dividend

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

Wall Street Analyst Weigh In

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

About Otter Tail

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.