Russell Investments Group Ltd. Cuts Stake in Otter Tail Corporation $OTTR

Russell Investments Group Ltd. reduced its stake in Otter Tail Corporation (NASDAQ:OTTR) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,848 shares of the utilities provider’s stock after selling 1,937 shares during the period. Russell Investments Group Ltd.’s holdings in Otter Tail were worth $1,274,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OTTR. Raymond James Financial Inc. purchased a new stake in shares of Otter Tail in the fourth quarter worth $2,672,000. MetLife Investment Management LLC grew its stake in shares of Otter Tail by 4.4% in the fourth quarter. MetLife Investment Management LLC now owns 24,913 shares of the utilities provider’s stock worth $1,840,000 after acquiring an additional 1,043 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Otter Tail by 22.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,845 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 335 shares during the last quarter. State of Tennessee Department of Treasury boosted its position in shares of Otter Tail by 5.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 22,281 shares of the utilities provider’s stock valued at $1,645,000 after buying an additional 1,160 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in Otter Tail by 11.4% in the 4th quarter. Stifel Financial Corp now owns 3,389 shares of the utilities provider’s stock worth $250,000 after buying an additional 348 shares in the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Price Performance

Shares of OTTR opened at $84.99 on Thursday. The firm has a market cap of $3.56 billion, a PE ratio of 12.50 and a beta of 0.56. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $79.54 and a two-hundred day simple moving average of $79.23. Otter Tail Corporation has a 1-year low of $71.66 and a 1-year high of $88.36.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The business had revenue of $333.04 million during the quarter, compared to analyst estimates of $329.60 million. During the same period in the previous year, the business earned $2.07 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, equities analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.10 dividend on an annualized basis and a yield of 2.5%. Otter Tail’s dividend payout ratio is currently 30.88%.

Analyst Upgrades and Downgrades

Separately, Siebert Williams Shank raised Otter Tail from a “hold” rating to a “buy” rating and boosted their target price for the stock from $82.00 to $83.00 in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $83.00.

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.