Caisse DE Depot ET Placement DU Quebec Has $32.66 Million Stock Holdings in Otter Tail Corporation $OTTR

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Otter Tail Corporation by 82.2% in Q1, owning approximately 406,321 shares valued at $32.66 million.
• Otter Tail Corporation reported an EPS of $1.85 for the recent quarter, surpassing analysts' expectations, despite a 2.7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.525 per share, representing an annualized yield of 2.5%, set to be paid on September 10th.

Caisse DE Depot ET Placement DU Quebec boosted its holdings in Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 82.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 406,321 shares of the utilities provider's stock after purchasing an additional 183,316 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.97% of Otter Tail worth $32,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Otter Tail during the 4th quarter worth approximately $2,672,000. MetLife Investment Management LLC lifted its holdings in Otter Tail by 4.4% during the 4th quarter. MetLife Investment Management LLC now owns 24,913 shares of the utilities provider's stock worth $1,840,000 after buying an additional 1,043 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Otter Tail by 22.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,845 shares of the utilities provider's stock worth $136,000 after buying an additional 335 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in Otter Tail by 5.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 22,281 shares of the utilities provider's stock worth $1,645,000 after buying an additional 1,160 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Otter Tail by 11.4% in the 4th quarter. Stifel Financial Corp now owns 3,389 shares of the utilities provider's stock worth $250,000 after purchasing an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Analysts Set New Price Targets

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

Otter Tail Price Performance

Shares of OTTR traded down $0.16 during trading hours on Friday, hitting $83.99. 134,606 shares of the company were exchanged, compared to its average volume of 198,265. The company has a market capitalization of $3.52 billion, a PE ratio of 12.35 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 firm has a fifty day simple moving average of $79.84 and a 200-day simple moving average of $79.29. Otter Tail Corporation has a one year low of $71.66 and a one year high of $88.36.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released 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. The business had revenue of $333.04 million during the quarter, compared to analyst estimates of $329.60 million. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.The company's revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $2.07 EPS. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. As a group, sell-side analysts predict that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

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

Otter Tail 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.