Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,508 shares of the utilities provider’s stock after selling 655 shares during the quarter. Prudential Financial Inc.’s holdings in Otter Tail were worth $3,417,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Asset Planning Inc acquired a new position in shares of Otter Tail during the fourth quarter valued at $37,000. Wilmington Savings Fund Society FSB acquired a new position in Otter Tail during the 3rd quarter valued at about $39,000. Crews Bank & Trust acquired a new position in Otter Tail during the 4th quarter valued at about $81,000. Nisa Investment Advisors LLC grew its position in Otter Tail by 28.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 333 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Otter Tail by 28.7% in the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 358 shares during the period. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Stock Performance

OTTR opened at $81.30 on Wednesday. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84. The stock has a market cap of $3.40 billion, a PE ratio of 11.34 and a beta of 0.53. The business’s 50 day moving average is $80.02 and its 200-day moving average is $78.68. 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 (NASDAQ:OTTR) 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 net margin of 22.67% and a return on equity of 18.96%. The firm had revenue of $303.11 million during the quarter, compared to analyst estimates of $314.75 million. On average, analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.58%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 14th. Otter Tail’s dividend payout ratio is 29.29%.

About Otter Tail

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.