Otter Tail Co. (OTTR) Shares Sold by Livingston Group Asset Management CO operating as Southport Capital Management

Livingston Group Asset Management CO operating as Southport Capital Management decreased its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,582 shares of the utilities provider’s stock after selling 245 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Otter Tail were worth $477,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OTTR. Strs Ohio acquired a new position in shares of Otter Tail during the 4th quarter worth approximately $29,000. JNBA Financial Advisors acquired a new position in shares of Otter Tail during the 4th quarter worth approximately $31,000. First Washington CORP acquired a new position in shares of Otter Tail during the 4th quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Otter Tail by 27.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 692 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new position in shares of Otter Tail during the 4th quarter worth approximately $174,000. 43.62% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Paul L. Knutson sold 3,000 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $49.77, for a total transaction of $149,310.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by insiders.

OTTR has been the subject of several analyst reports. BidaskClub downgraded Otter Tail from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 27th. Zacks Investment Research downgraded Otter Tail from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Finally, Maxim Group initiated coverage on Otter Tail in a report on Thursday, April 11th. They issued a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Otter Tail presently has a consensus rating of “Buy” and a consensus target price of $52.67.

OTTR traded up $0.11 during trading on Wednesday, hitting $50.63. The company’s stock had a trading volume of 310 shares, compared to its average volume of 71,609. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.79 and a current ratio of 1.42. The company has a market capitalization of $2.01 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 3.31 and a beta of 0.33. Otter Tail Co. has a twelve month low of $42.55 and a twelve month high of $51.88.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, February 18th. The utilities provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The business had revenue of $221.17 million during the quarter. Otter Tail had a net margin of 8.99% and a return on equity of 11.45%. As a group, equities research analysts forecast that Otter Tail Co. will post 2.2 earnings per share for the current fiscal year.

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About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.

Further Reading: What are Institutional Investors?

Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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