Connor Clark & Lunn Investment Management Ltd. Has $1.62 Million Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Otter Tail Co. (NASDAQ:OTTR) by 158.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,709 shares of the utilities provider’s stock after buying an additional 12,703 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Otter Tail were worth $1,619,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of OTTR. Bank & Trust Co acquired a new stake in shares of Otter Tail during the second quarter worth $11,129,000. International Assets Investment Management LLC boosted its holdings in Otter Tail by 3,339.9% in the 3rd quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock valued at $5,974,000 after purchasing an additional 74,212 shares during the period. Edgestream Partners L.P. grew its position in shares of Otter Tail by 2,055.2% during the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock worth $5,929,000 after purchasing an additional 64,554 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Otter Tail during the third quarter worth approximately $2,947,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Otter Tail by 100.1% in the third quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider’s stock valued at $5,590,000 after buying an additional 35,783 shares during the period. 61.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on OTTR shares. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $81.94 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.43 billion, a PE ratio of 11.19 and a beta of 0.52. The company has a 50 day moving average of $78.92 and a 200-day moving average of $85.11. Otter Tail Co. has a 1-year low of $73.43 and a 1-year high of $100.84.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The firm had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the business posted $2.19 EPS. As a group, equities research analysts forecast that Otter Tail Co. will post 7.01 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.468 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.28%. Otter Tail’s dividend payout ratio (DPR) is currently 25.83%.

Otter Tail 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.