Otter Tail Corporation $OTTR Shares Sold by Vest Financial LLC

Vest Financial LLC lowered its position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 47.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,428 shares of the utilities provider's stock after selling 20,095 shares during the quarter. Vest Financial LLC owned about 0.05% of Otter Tail worth $1,975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Abel Hall LLC raised its position in shares of Otter Tail by 9.4% during the 3rd quarter. Abel Hall LLC now owns 2,664 shares of the utilities provider's stock valued at $235,000 after acquiring an additional 229 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Otter Tail in the third quarter worth $210,000. USA Financial Formulas acquired a new position in Otter Tail in the third quarter worth $147,000. Fortitude Family Office LLC boosted its holdings in Otter Tail by 3,239.1% in the third quarter. Fortitude Family Office LLC now owns 768 shares of the utilities provider's stock worth $68,000 after purchasing an additional 745 shares during the period. Finally, GAMMA Investing LLC increased its stake in Otter Tail by 27.5% during the third quarter. GAMMA Investing LLC now owns 1,065 shares of the utilities provider's stock valued at $94,000 after purchasing an additional 230 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Performance

Shares of NASDAQ OTTR opened at $90.49 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm's 50-day moving average price is $89.55 and its two-hundred day moving average price is $89.43. Otter Tail Corporation has a 52-week low of $74.15 and a 52-week high of $95.09. The stock has a market capitalization of $3.80 billion, a P/E ratio of 14.01 and a beta of 0.46.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.51 by $0.15. The company had revenue of $334.38 million during the quarter, compared to analyst estimates of $326.13 million. Otter Tail had a return on equity of 14.56% and a net margin of 14.83%. The business's revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. As a group, sell-side analysts forecast that Otter Tail Corporation will post 5.96 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were given a dividend of $0.5775 per share. The ex-dividend date was Friday, August 14th. This represents a $2.31 dividend on an annualized basis and a yield of 2.6%. Otter Tail's payout ratio is currently 49.78%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Otter Tail from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 13th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $86.00.

Otter Tail Company Profile

Otter Tail Corporation is a diversified company headquartered in Fergus Falls, Minnesota. Through its electric utility subsidiary, Otter Tail Power Company, it generates, transmits and distributes electricity to residential, commercial, industrial and agricultural customers.

Otter Tail Power Company serves customers across portions of western Minnesota, eastern North Dakota and northeastern South Dakota. Its generation portfolio includes coal, natural gas, wind and other energy resources, supporting the company's role as a regional provider of electric power and related utility services.

Beyond its utility operations, Otter Tail Corporation owns manufacturing businesses that produce fabricated metal components, plastic products and other specialized goods.

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