Covestor Ltd Grows Stock Position in Otter Tail Co. (NASDAQ:OTTR)

by · The Cerbat Gem

Covestor Ltd lifted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR – Free Report) by 70.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,660 shares of the utilities provider’s stock after acquiring an additional 1,097 shares during the period. Covestor Ltd’s holdings in Otter Tail were worth $196,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Asset Planning Inc purchased a new position in shares of Otter Tail in the fourth quarter worth $37,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Otter Tail in the 3rd quarter valued at $39,000. Crews Bank & Trust purchased a new stake in Otter Tail during the fourth quarter worth $81,000. New Age Alpha Advisors LLC purchased a new position in Otter Tail in the fourth quarter valued at $94,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 333 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Performance

NASDAQ OTTR opened at $77.52 on Friday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 10.81 and a beta of 0.49. The stock has a 50-day moving average of $79.99 and a 200 day moving average of $78.57. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR – Get Free Report) last announced its earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The firm had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million. Sell-side analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s payout ratio is currently 29.29%.

Otter Tail Profile

(Free Report)

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.

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