PDT Partners LLC Invests $2.43 Million in Otter Tail Corporation $OTTR

PDT Partners LLC bought a new stake in Otter Tail Corporation (NASDAQ:OTTR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,000 shares of the utilities provider’s stock, valued at approximately $2,429,000. PDT Partners LLC owned about 0.06% of Otter Tail at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Otter Tail in the 2nd quarter valued at $590,053,000. Geode Capital Management LLC increased its position in Otter Tail by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,019,262 shares of the utilities provider’s stock worth $82,385,000 after buying an additional 4,164 shares during the period. LSV Asset Management increased its position in Otter Tail by 217.6% during the 4th quarter. LSV Asset Management now owns 536,941 shares of the utilities provider’s stock worth $43,390,000 after buying an additional 367,869 shares during the period. Bank of America Corp DE lifted its holdings in shares of Otter Tail by 31.6% during the second quarter. Bank of America Corp DE now owns 409,157 shares of the utilities provider’s stock worth $31,542,000 after buying an additional 98,243 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Otter Tail during the second quarter worth $32,238,000. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

OTTR opened at $92.33 on Thursday. 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 52-week low of $74.15 and a 52-week high of $95.09. The firm has a market cap of $3.88 billion, a P/E ratio of 19.90 and a beta of 0.45. The business’s fifty day moving average is $91.02 and its 200-day moving average is $88.76.

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

Otter Tail Dividend Announcement

The company 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 $0.5775 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.31 annualized dividend and a dividend yield of 2.5%. Otter Tail’s payout ratio is presently 49.78%.

Analyst Ratings Changes

Several equities analysts recently commented on OTTR shares. KeyCorp restated a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. Siebert Williams Shank downgraded shares of Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Otter Tail from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. UBS Group restated a “reduce” rating on shares of Otter Tail in a research report on Friday, May 29th. Finally, Zacks Research cut shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $86.00.

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.