Renaissance Technologies LLC Has $580,000 Stock Position in Otter Tail Corporation $OTTR

Renaissance Technologies LLC reduced its stake in Otter Tail Corporation (NASDAQ:OTTR) by 50.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,610 shares of the utilities provider’s stock after selling 6,688 shares during the period. Renaissance Technologies LLC’s holdings in Otter Tail were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. LSV Asset Management grew its position in Otter Tail by 217.6% in the fourth quarter. LSV Asset Management now owns 536,941 shares of the utilities provider’s stock valued at $43,390,000 after acquiring an additional 367,869 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Otter Tail by 786.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 56,235 shares of the utilities provider’s stock valued at $4,550,000 after acquiring an additional 49,891 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Otter Tail by 86.8% during the first quarter. SG Americas Securities LLC now owns 25,504 shares of the utilities provider’s stock valued at $2,238,000 after acquiring an additional 11,850 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Otter Tail by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 231,889 shares of the utilities provider’s stock valued at $20,353,000 after purchasing an additional 32,266 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Otter Tail by 26.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 41,187 shares of the utilities provider’s stock valued at $3,328,000 after purchasing an additional 8,663 shares in the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Stock Performance

Shares of NASDAQ:OTTR opened at $92.87 on Monday. The business has a fifty day moving average of $90.51 and a 200-day moving average of $88.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.36 and a current ratio of 1.71. Otter Tail Corporation has a twelve month low of $74.15 and a twelve month high of $95.09. The firm has a market cap of $3.90 billion, a PE ratio of 20.02 and a beta of 0.45.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.15. Otter Tail had a net margin of 14.83% and a return on equity of 14.56%. The business had revenue of $334.38 million for the quarter, compared to the consensus estimate of $326.13 million. During the same quarter in the prior year, the company earned $1.85 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Otter Tail has set its FY 2026 guidance at 5.680-6.080 EPS. On average, equities research analysts predict that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th. Otter Tail’s dividend payout ratio is presently 49.78%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OTTR. Siebert Williams Shank lowered shares of Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Wednesday, May 6th. UBS Group reissued a “reduce” rating on shares of Otter Tail in a report on Friday, May 29th. KeyCorp restated a “sector weight” rating on shares of Otter Tail in a research report on Monday, June 1st. Weiss Ratings cut shares of Otter Tail from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Otter Tail has an average rating of “Reduce” and an average price target of $86.00.

Otter Tail 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.