Congress Wealth Management LLC DE Has $222,000 Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Congress Wealth Management LLC DE lowered its stake in Otter Tail Co. (NASDAQ:OTTR) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,000 shares of the utilities provider’s stock after selling 225 shares during the period. Congress Wealth Management LLC DE’s holdings in Otter Tail were worth $222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Otter Tail by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider’s stock worth $389,511,000 after acquiring an additional 43,186 shares during the last quarter. State Street Corp boosted its stake in shares of Otter Tail by 1.1% during the third quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock valued at $124,941,000 after purchasing an additional 18,109 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Otter Tail by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 536,545 shares of the utilities provider’s stock worth $39,618,000 after purchasing an additional 27,415 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Otter Tail by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider’s stock valued at $29,916,000 after buying an additional 8,993 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Otter Tail by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 225,987 shares of the utilities provider’s stock valued at $16,687,000 after buying an additional 9,088 shares during the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Up 0.2 %

OTTR opened at $80.73 on Monday. The company’s 50 day moving average price is $79.97 and its two-hundred day moving average price is $78.64. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 11.26 and a beta of 0.53. Otter Tail Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. As a group, research 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 declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $0.525 per share. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 annualized dividend and a yield of 2.60%. Otter Tail’s dividend payout ratio (DPR) is presently 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.