First Trust Advisors LP raised its holdings in Otter Tail Co. (NASDAQ:OTTR) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 516,029 shares of the utilities provider’s stock after purchasing an additional 48,716 shares during the quarter. First Trust Advisors LP’s holdings in Otter Tail were worth $24,718,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Bank of Montreal Can boosted its holdings in Otter Tail by 38.3% in the third quarter. Bank of Montreal Can now owns 4,302 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 1,192 shares during the last quarter. Northern Trust Corp boosted its holdings in Otter Tail by 0.6% in the second quarter. Northern Trust Corp now owns 957,061 shares of the utilities provider’s stock valued at $45,556,000 after purchasing an additional 6,048 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Otter Tail by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 415,200 shares of the utilities provider’s stock valued at $19,763,000 after purchasing an additional 12,605 shares during the last quarter. Bruderman Asset Management LLC boosted its holdings in Otter Tail by 125.1% in the second quarter. Bruderman Asset Management LLC now owns 2,550 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Forsta AP Fonden purchased a new stake in Otter Tail in the second quarter valued at $685,000. 42.94% of the stock is currently owned by institutional investors.
OTTR stock opened at $45.09 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 1.44. Otter Tail Co. has a 52-week low of $39.00 and a 52-week high of $49.75. The stock has a market cap of $1.78 billion, a PE ratio of 24.24 and a beta of 0.54.
Otter Tail (NASDAQ:OTTR) last posted its earnings results on Monday, November 5th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.16. Otter Tail had a net margin of 9.09% and a return on equity of 11.74%. The business had revenue of $227.70 million for the quarter. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Otter Tail Co. will post 2 earnings per share for the current fiscal year.
OTTR has been the topic of several recent analyst reports. BidaskClub raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research lowered shares of Otter Tail from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $45.67.
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About Otter Tail
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.
Further Reading: Dollar Cost Averaging
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