Otter Tail Corporation $OTTR Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Otter Tail Corporation by 46.7%, owning about 31,827 shares valued at approximately $2.56 million.
• Otter Tail Corporation reported a quarterly EPS of $1.85, surpassing analysts' expectations, while also announcing a quarterly dividend of $0.525 per share.
• Analysts have upgraded Otter Tail to a "buy" rating with a consensus price target of $83.00.

Quantbot Technologies LP lifted its holdings in Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 46.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,827 shares of the utilities provider's stock after buying an additional 10,131 shares during the quarter. Quantbot Technologies LP owned 0.08% of Otter Tail worth $2,558,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OTTR. Byrne Asset Management LLC boosted its stake in shares of Otter Tail by 54.8% in 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 in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Otter Tail in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Otter Tail in the fourth quarter valued at approximately $36,000. AdvisorNet Financial Inc boosted its stake 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 valued at $44,000 after buying an additional 300 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new stake in shares of Otter Tail in the fourth quarter valued at approximately $50,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Otter Tail Price Performance

OTTR stock traded down $0.18 during midday trading on Tuesday, hitting $84.79. 24,932 shares of the stock were exchanged, compared to its average volume of 233,109. The stock's 50-day moving average price is $79.17 and its 200-day moving average price is $79.15. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 12.46 and a beta of 0.56. Otter Tail Corporation has a fifty-two week low of $71.66 and a fifty-two week high of $91.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31.

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

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend 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 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.