Otter Tail Corporation (NASDAQ:OTTR) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Otter Tail Corporation (NASDAQ:OTTR) by 6.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,600 shares of the utilities provider’s stock after buying an additional 682 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Otter Tail were worth $852,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Otter Tail by 15.1% in the fourth quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider’s stock valued at $40,288,000 after purchasing an additional 71,601 shares in the last quarter. Millennium Management LLC increased its stake in shares of Otter Tail by 13.5% during the 4th quarter. Millennium Management LLC now owns 411,281 shares of the utilities provider’s stock worth $30,369,000 after purchasing an additional 48,888 shares in the last quarter. Invesco Ltd. raised its position in shares of Otter Tail by 49.6% during the 4th quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider’s stock worth $21,513,000 after purchasing an additional 96,573 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Otter Tail by 3.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 273,692 shares of the utilities provider’s stock valued at $20,209,000 after buying an additional 10,250 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Otter Tail by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 231,561 shares of the utilities provider’s stock valued at $18,611,000 after buying an additional 5,574 shares in the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 report on Wednesday, May 7th.

Otter Tail Price Performance

NASDAQ:OTTR opened at $80.94 on Wednesday. Otter Tail Corporation has a 12-month low of $71.66 and a 12-month high of $96.79. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 11.90 and a beta of 0.56. The company’s 50-day moving average is $77.86 and its two-hundred day moving average is $78.73. The company has a current ratio of 2.62, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. The business had revenue of $333.04 million for the quarter, compared to the consensus estimate of $329.60 million. Otter Tail had a net margin of 21.82% and a return on equity of 17.10%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.07 earnings per share. Research analysts expect that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Company 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.