Global Retirement Partners LLC boosted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR – Free Report) by 21,172.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,340 shares of the utilities provider’s stock after purchasing an additional 2,329 shares during the period. Global Retirement Partners LLC’s holdings in Otter Tail were worth $180,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of OTTR. First Trust Advisors LP increased its holdings in Otter Tail by 27.9% during the 4th quarter. First Trust Advisors LP now owns 1,285,555 shares of the utilities provider’s stock valued at $75,477,000 after purchasing an additional 280,119 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Otter Tail by 311.6% during the 1st quarter. Victory Capital Management Inc. now owns 207,688 shares of the utilities provider’s stock worth $15,010,000 after acquiring an additional 157,234 shares during the period. Vanguard Group Inc. grew its holdings in shares of Otter Tail by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,678,985 shares of the utilities provider’s stock worth $287,851,000 after acquiring an additional 128,872 shares during the period. Marshall Wace LLP grew its holdings in shares of Otter Tail by 265.9% during the 4th quarter. Marshall Wace LLP now owns 138,123 shares of the utilities provider’s stock worth $8,109,000 after acquiring an additional 100,374 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Otter Tail during the 1st quarter worth approximately $4,741,000. Hedge funds and other institutional investors own 61.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on OTTR. Siebert Williams Shank downgraded Otter Tail from a “hold” rating to a “sell” rating and set a $68.00 target price on the stock. in a report on Wednesday, May 3rd. Maxim Group downgraded Otter Tail from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, StockNews.com began coverage on Otter Tail in a report on Thursday, May 18th. They set a “hold” rating on the stock.
Otter Tail Stock Performance
OTTR stock opened at $91.63 on Friday. The stock has a market capitalization of $3.82 billion, a PE ratio of 14.21 and a beta of 0.52. Otter Tail Co. has a 12-month low of $52.60 and a 12-month high of $92.74. The company has a current ratio of 1.74, a quick ratio of 1.26 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $80.18 and its 200 day simple moving average is $74.21.
Otter Tail Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be given a $0.438 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.75 annualized dividend and a yield of 1.91%. Otter Tail’s dividend payout ratio (DPR) is presently 27.13%.
Otter Tail Profile
Otter Tail Corp. is a holding company engaged in the energy, infrastructure, and production businesses. It operates through the following segments: Electric, Manufacturing, and Plastics. The Electric segment is involved in the generation, purchase, transmission, distribution, and sale of electric energy in western Minnesota, eastern North Dakota, and northeastern South Dakota.
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