nVerses Capital LLC Has $360,000 Holdings in Otter Tail Co. (NASDAQ:OTTR)

nVerses Capital LLC increased its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 4,500.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,600 shares of the utilities provider’s stock after acquiring an additional 4,500 shares during the period. nVerses Capital LLC’s holdings in Otter Tail were worth $360,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Otter Tail by 3.9% during the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock valued at $452,607,000 after purchasing an additional 197,617 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Otter Tail by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider’s stock valued at $90,703,000 after buying an additional 3,974 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Otter Tail by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider’s stock valued at $38,102,000 after buying an additional 4,862 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Otter Tail by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 235,102 shares of the utilities provider’s stock worth $20,313,000 after acquiring an additional 4,358 shares during the period. Finally, Federated Hermes Inc. lifted its position in Otter Tail by 3.6% during the 2nd quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider’s stock worth $12,532,000 after acquiring an additional 4,997 shares during the last quarter. 61.32% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now directly owns 12,300 shares in the company, valued at $1,091,502. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by company insiders.

Otter Tail Trading Up 0.8 %

Shares of NASDAQ:OTTR opened at $79.51 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27. The stock’s 50-day moving average is $81.32 and its 200-day moving average is $86.17. The company has a market cap of $3.32 billion, a P/E ratio of 10.92 and a beta of 0.53. Otter Tail Co. has a 52-week low of $68.96 and a 52-week high of $100.84.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The firm had revenue of $342.34 million for the quarter, compared to analyst estimates of $367.71 million. During the same quarter last year, the firm posted $1.95 EPS. The company’s revenue was up 1.4% on a year-over-year basis. Equities research analysts predict that Otter Tail Co. will post 6.92 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.468 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.35%. Otter Tail’s payout ratio is 25.69%.

Otter Tail Company Profile

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.