Otter Tail Corporation $OTTR Shares Sold by Savant Capital LLC

Savant Capital LLC reduced its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 20.8% during the second quarter, Holdings Channel.com reports. The fund owned 3,742 shares of the utilities provider’s stock after selling 985 shares during the quarter. Savant Capital LLC’s holdings in Otter Tail were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. HighMark Wealth Management LLC bought a new position in shares of Otter Tail during the 2nd quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Otter Tail during the first quarter valued at approximately $34,000. Costello Asset Management INC bought a new stake in Otter Tail during the first quarter worth approximately $66,000. Armstrong Advisory Group Inc. grew its position in Otter Tail by 93.0% in the second quarter. Armstrong Advisory Group Inc. now owns 1,660 shares of the utilities provider’s stock worth $128,000 after buying an additional 800 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Otter Tail in the first quarter valued at $145,000. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $81.95 on Wednesday. The company’s fifty day moving average is $80.73 and its two-hundred day moving average is $79.76. The company has a market cap of $3.43 billion, a P/E ratio of 12.05 and a beta of 0.56. Otter Tail Corporation has a 12-month low of $71.66 and a 12-month high of $86.22. The company has a quick ratio of 2.57, a current ratio of 3.31 and a debt-to-equity ratio of 0.59.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.06. The business had revenue of $325.56 million for the quarter, compared to the consensus estimate of $337.40 million. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.Otter Tail’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 earnings per share. Equities analysts expect that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $0.525 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.6%. Otter Tail’s dividend payout ratio is currently 31.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Otter Tail from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Zacks Research raised Otter Tail to a “hold” rating in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Otter Tail presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

About Otter Tail

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.