Otter Tail Corporation $OTTR Stock Position Reduced by Rhumbline Advisers

Rhumbline Advisers lessened its stake in Otter Tail Corporation (NASDAQ:OTTR) by 5.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 102,848 shares of the utilities provider’s stock after selling 6,377 shares during the quarter. Rhumbline Advisers’ holdings in Otter Tail were worth $8,430,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Otter Tail by 2.5% in the first quarter. Royal Bank of Canada now owns 116,479 shares of the utilities provider’s stock worth $9,361,000 after acquiring an additional 2,807 shares during the last quarter. AQR Capital Management LLC grew its stake in Otter Tail by 26.9% in the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 purchased a new stake in shares of Otter Tail during the 1st quarter worth about $223,000. Finally, Jane Street Group LLC raised its stake in shares of Otter Tail by 190.8% during the 1st quarter. Jane Street Group LLC now owns 54,112 shares of the utilities provider’s stock worth $4,349,000 after purchasing an additional 35,505 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Price Performance

NASDAQ OTTR opened at $84.95 on Friday. The firm has a market cap of $3.56 billion, a P/E ratio of 12.95 and a beta of 0.55. The stock’s 50-day moving average is $85.51 and its two-hundred day moving average is $82.97. Otter Tail Corporation has a fifty-two week low of $71.79 and a fifty-two week high of $90.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.28 and a quick ratio of 2.82.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, February 16th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.07. Otter Tail had a return on equity of 15.36% and a net margin of 21.16%.The business had revenue of $308.10 million for the quarter, compared to analyst estimates of $311.15 million. During the same quarter in the prior year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Otter Tail has set its FY 2026 guidance at 5.220-5.620 EPS. On average, analysts anticipate 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. Stockholders of record on Friday, February 13th will be given a $0.5775 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.53. This represents a $2.31 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. Otter Tail’s payout ratio is 35.21%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Otter Tail in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.