California Public Employees Retirement System lowered its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,612 shares of the utilities provider’s stock after selling 3,655 shares during the period. California Public Employees Retirement System owned about 0.17% of Otter Tail worth $3,257,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Strs Ohio acquired a new position in shares of Otter Tail during the 4th quarter worth $29,000. JNBA Financial Advisors acquired a new position in shares of Otter Tail during the 4th quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Otter Tail by 27.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the utilities provider’s stock worth $158,000 after buying an additional 692 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Otter Tail during the 4th quarter worth $174,000. Finally, FMR LLC acquired a new position in shares of Otter Tail during the 3rd quarter worth $176,000. 43.62% of the stock is owned by institutional investors.

A number of equities analysts have recently commented on the company. BidaskClub cut Otter Tail from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised Otter Tail from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Saturday, January 12th.

In related news, VP Paul L. Knutson sold 3,000 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $49.77, for a total transaction of $149,310.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Otter Tail stock opened at $49.01 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.81. Otter Tail Co. has a 52 week low of $42.30 and a 52 week high of $51.88. The firm has a market cap of $1.95 billion, a PE ratio of 23.79 and a beta of 0.34.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, February 18th. The utilities provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). Otter Tail had a return on equity of 11.45% and a net margin of 8.99%. The business had revenue of $221.17 million for the quarter. As a group, research analysts forecast that Otter Tail Co. will post 2.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Otter Tail’s previous quarterly dividend of $0.34. Otter Tail’s payout ratio is currently 67.96%.

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Otter Tail Company Profile

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.

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Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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