LPL Financial LLC Acquires 448 Shares of Otter Tail Co. (NASDAQ:OTTR)

LPL Financial LLC raised its holdings in Otter Tail Co. (NASDAQ:OTTR – Get Rating) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,032 shares of the utilities provider’s stock after buying an additional 448 shares during the period. LPL Financial LLC owned about 0.08% of Otter Tail worth $1,939,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OTTR. Vanguard Group Inc. increased its stake in shares of Otter Tail by 2.8% during the third quarter. Vanguard Group Inc. now owns 4,678,985 shares of the utilities provider’s stock worth $287,851,000 after purchasing an additional 128,872 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Otter Tail during the third quarter worth approximately $4,936,000. LSV Asset Management grew its position in Otter Tail by 124.0% during the third quarter. LSV Asset Management now owns 143,600 shares of the utilities provider’s stock worth $8,834,000 after buying an additional 79,500 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Otter Tail during the first quarter worth approximately $4,741,000. Finally, Renaissance Technologies LLC grew its position in Otter Tail by 31.1% during the first quarter. Renaissance Technologies LLC now owns 252,814 shares of the utilities provider’s stock worth $15,801,000 after buying an additional 59,910 shares in the last quarter. Institutional investors own 49.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OTTR. StockNews.com began coverage on Otter Tail in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Maxim Group downgraded Otter Tail from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Siebert Williams Shank downgraded Otter Tail from a “hold” rating to a “sell” rating and set a $68.00 price target on the stock. in a research report on Wednesday, May 3rd.

Otter Tail Trading Up 0.9 %

Shares of OTTR stock opened at $77.28 on Wednesday. The stock’s fifty day moving average price is $73.45 and its two-hundred day moving average price is $65.98. The company has a market cap of $3.22 billion, a PE ratio of 11.80 and a beta of 0.52. Otter Tail Co. has a fifty-two week low of $52.60 and a fifty-two week high of $82.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.18 and a current ratio of 1.73.

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Monday, May 15th will be issued a $0.438 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, May 12th. Otter Tail’s dividend payout ratio is presently 26.72%.

Otter Tail Profile

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Otter Tail Corp. is a holding company engaged in the energy, infrastructure, and production businesses. It operates through the following segments: Electric, Manufacturing, and Plastics. The Electric segment is involved in the generation, purchase, transmission, distribution, and sale of electric energy in western Minnesota, eastern North Dakota, and northeastern South Dakota.