20,095 Otter Tail Corporation $OTTR Shares Sold by Vest Financial LLC

Vest Financial LLC lowered its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 47.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,428 shares of the utilities provider’s stock after selling 20,095 shares during the period. Vest Financial LLC’s holdings in Otter Tail were worth $1,975,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Abel Hall LLC boosted its stake in 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 purchasing an additional 229 shares during the period. SteelPeak Wealth LLC bought a new position in Otter Tail in the 3rd quarter worth about $210,000. USA Financial Formulas bought a new position in Otter Tail in the 3rd quarter worth about $147,000. Fortitude Family Office LLC grew its position in Otter Tail by 3,239.1% in the 3rd 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 last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Otter Tail by 27.5% in 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 period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Otter Tail from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $86.00.

Otter Tail Stock Down 0.3%

Shares of Otter Tail stock opened at $90.49 on Friday. The business’s fifty day moving average price is $89.55 and its two-hundred day moving average price is $89.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.71 and a quick ratio of 1.36. The company has a market capitalization of $3.80 billion, a P/E ratio of 14.01 and a beta of 0.46. Otter Tail Corporation has a 1-year low of $74.15 and a 1-year high of $95.09.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.15. Otter Tail had a return on equity of 14.56% and a net margin of 14.83%. The company had revenue of $334.38 million during the quarter, compared to analyst estimates of $326.13 million. During the same quarter in the previous year, the firm posted $1.85 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts forecast that Otter Tail Corporation will post 5.96 EPS for the current year.

Otter Tail Dividend Announcement

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

Otter Tail 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.