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 stake in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 46.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,827 shares of the utilities provider's stock after acquiring an additional 10,131 shares during the period. Quantbot Technologies LP owned 0.08% of Otter Tail worth $2,558,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in OTTR. Nuveen LLC acquired a new stake in Otter Tail in the 1st quarter worth about $13,217,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in Otter Tail by 168.8% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 223,005 shares of the utilities provider's stock worth $16,467,000 after buying an additional 140,044 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Otter Tail in the 4th quarter worth about $5,675,000. Northern Trust Corp boosted its stake in Otter Tail by 15.1% in the 4th quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider's stock worth $40,288,000 after buying an additional 71,601 shares during the last quarter. Finally, Denali Advisors LLC boosted its stake in Otter Tail by 883.3% in the 1st quarter. Denali Advisors LLC now owns 67,959 shares of the utilities provider's stock worth $5,462,000 after buying an additional 61,048 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Wall Street Analysts Forecast Growth

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

Otter Tail Stock Up 3.5%

Otter Tail stock traded up $2.88 during midday trading on Friday, hitting $85.97. 175,382 shares of the company were exchanged, compared to its average volume of 213,602. The company's fifty day moving average price is $79.00 and its 200-day moving average price is $79.10. The company has a market cap of $3.60 billion, a PE ratio of 12.64 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. Otter Tail Corporation has a fifty-two week low of $71.66 and a fifty-two week high of $92.51.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings results 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. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $329.60 million. During the same quarter in the previous year, the firm posted $2.07 EPS. The firm's quarterly revenue was down 2.7% on a year-over-year basis. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, research analysts predict that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company 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. The ex-dividend date is Friday, August 15th. This represents a $2.10 annualized dividend and a dividend yield of 2.4%. Otter Tail's dividend payout ratio (DPR) is presently 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.