Quantbot Technologies LP Has $1.90 Million Holdings in Otter Tail Corporation $OTTR

Quantbot Technologies LP decreased its holdings in shares of Otter Tail Corporation (NASDAQ:OTTR) by 26.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,195 shares of the utilities provider’s stock after selling 8,390 shares during the quarter. Quantbot Technologies LP’s holdings in Otter Tail were worth $1,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OTTR. Royal Bank of Canada boosted its stake in Otter Tail by 2.5% in the first quarter. Royal Bank of Canada now owns 116,479 shares of the utilities provider’s stock valued at $9,361,000 after acquiring an additional 2,807 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Otter Tail by 26.9% in the 1st quarter. AQR Capital Management LLC now owns 22,709 shares of the utilities provider’s stock valued at $1,825,000 after purchasing an additional 4,815 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Otter Tail by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,611 shares of the utilities provider’s stock worth $1,978,000 after purchasing an additional 1,067 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Otter Tail during the first quarter worth $223,000. Finally, Jane Street Group LLC increased its holdings in Otter Tail by 190.8% in the first quarter. Jane Street Group LLC now owns 54,112 shares of the utilities provider’s stock valued at $4,349,000 after purchasing an additional 35,505 shares during the last quarter. 61.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Otter Tail from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $83.00.

Otter Tail Stock Performance

Shares of OTTR stock opened at $89.27 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.83 and a current ratio of 2.28. Otter Tail Corporation has a 52 week low of $71.79 and a 52 week high of $90.11. The company’s 50 day moving average price is $85.90 and its two-hundred day moving average price is $83.26. The company has a market capitalization of $3.74 billion, a P/E ratio of 13.61 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Tuesday, February 17th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.07. Otter Tail had a net margin of 21.16% and a return on equity of 15.36%. The company had revenue of $308.10 million during the quarter, compared to the consensus estimate of $311.15 million. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts expect that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be paid a $0.5775 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.31 annualized dividend and a dividend yield of 2.6%. This is a positive change from Otter Tail’s previous quarterly dividend of $0.53. Otter Tail’s dividend payout ratio (DPR) is 35.21%.

Otter Tail Company Profile

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.