Kestra Advisory Services LLC Purchases 6,721 Shares of Otter Tail Co. (NASDAQ:OTTR)

Kestra Advisory Services LLC raised its position in shares of Otter Tail Co. (NASDAQ:OTTRGet Rating) by 52.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,620 shares of the utilities provider’s stock after purchasing an additional 6,721 shares during the quarter. Kestra Advisory Services LLC’s holdings in Otter Tail were worth $1,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sawtooth Solutions LLC bought a new stake in Otter Tail during the 2nd quarter valued at about $252,000. Victory Capital Management Inc. increased its stake in Otter Tail by 12.8% during the 2nd quarter. Victory Capital Management Inc. now owns 292,101 shares of the utilities provider’s stock valued at $19,609,000 after purchasing an additional 33,137 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Otter Tail in the second quarter worth approximately $817,000. Dupont Capital Management Corp purchased a new position in shares of Otter Tail during the second quarter valued at approximately $157,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Otter Tail by 40.4% during the second quarter. Envestnet Asset Management Inc. now owns 17,130 shares of the utilities provider’s stock valued at $1,150,000 after purchasing an additional 4,925 shares during the last quarter. 49.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OTTR shares. Maxim Group decreased their price objective on shares of Otter Tail from $95.00 to $75.00 in a report on Wednesday, November 2nd. Siebert Williams Shank raised shares of Otter Tail from a “sell” rating to a “hold” rating and set a $63.00 price objective for the company in a report on Monday, November 28th. Finally, cut shares of Otter Tail from a “buy” rating to a “hold” rating in a report on Monday, October 31st.

Insider Buying and Selling at Otter Tail

In other Otter Tail news, Director John D. Erickson sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $56.31, for a total transaction of $112,620.00. Following the completion of the sale, the director now directly owns 3,633 shares of the company’s stock, valued at $204,574.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Otter Tail Stock Up 0.5 %

Shares of OTTR stock opened at $61.99 on Wednesday. Otter Tail Co. has a 12 month low of $52.60 and a 12 month high of $82.46. The stock has a market cap of $2.58 billion, a P/E ratio of 8.84 and a beta of 0.50. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 0.70. The company has a 50 day simple moving average of $59.18 and a two-hundred day simple moving average of $65.38.

Otter Tail (NASDAQ:OTTRGet Rating) last announced its earnings results on Monday, October 31st. The utilities provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.31. Otter Tail had a net margin of 19.69% and a return on equity of 27.09%. The business had revenue of $383.86 million during the quarter, compared to analysts’ expectations of $389.30 million. On average, research analysts expect that Otter Tail Co. will post 6.6 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were issued a dividend of $0.412 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.65 dividend on an annualized basis and a yield of 2.66%. Otter Tail’s dividend payout ratio is currently 23.54%.

Otter Tail Company Profile

(Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.

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Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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