Davidson Investment Advisors Boosts Holdings in MDU Resources Group, Inc. (MDU)
Davidson Investment Advisors boosted its position in MDU Resources Group, Inc. (NYSE:MDU) by 18.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,914 shares of the utilities provider’s stock after purchasing an additional 50,697 shares during the quarter. Davidson Investment Advisors owned approximately 0.17% of MDU Resources Group worth $8,535,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MDU. State Street Corp raised its holdings in MDU Resources Group by 8.2% in the second quarter. State Street Corp now owns 13,043,478 shares of the utilities provider’s stock worth $341,737,000 after purchasing an additional 983,880 shares in the last quarter. Prudential Financial Inc. raised its holdings in MDU Resources Group by 55.0% in the third quarter. Prudential Financial Inc. now owns 2,072,325 shares of the utilities provider’s stock worth $53,776,000 after purchasing an additional 735,440 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in MDU Resources Group by 566.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 819,281 shares of the utilities provider’s stock worth $21,465,000 after purchasing an additional 696,331 shares in the last quarter. First Trust Advisors LP raised its holdings in MDU Resources Group by 49.9% in the third quarter. First Trust Advisors LP now owns 1,742,518 shares of the utilities provider’s stock worth $45,218,000 after purchasing an additional 580,276 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in MDU Resources Group by 4,741.5% in the second quarter. Janus Henderson Group PLC now owns 475,481 shares of the utilities provider’s stock worth $12,458,000 after purchasing an additional 465,660 shares in the last quarter. Institutional investors and hedge funds own 63.93% of the company’s stock.
MDU has been the subject of a number of research reports. KeyCorp reiterated a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a report on Friday, October 20th. Zacks Investment Research upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, October 11th. Finally, BidaskClub upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.75.
Shares of MDU Resources Group, Inc. (NYSE MDU) traded down $0.02 during trading hours on Thursday, hitting $26.87. The stock had a trading volume of 684,500 shares, compared to its average volume of 852,865. MDU Resources Group, Inc. has a 1 year low of $25.14 and a 1 year high of $29.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 1.01. The company has a market capitalization of $5,251.73, a P/E ratio of 22.60, a PEG ratio of 2.82 and a beta of 0.92.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). MDU Resources Group had a net margin of 5.39% and a return on equity of 10.20%. The company had revenue of $1.27 billion for the quarter. During the same period in the previous year, the firm earned $0.45 EPS. analysts expect that MDU Resources Group, Inc. will post 1.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Thursday, December 14th will be issued a dividend of $0.1975 per share. The ex-dividend date is Wednesday, December 13th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.19. This represents a $0.79 annualized dividend and a dividend yield of 2.94%. MDU Resources Group’s dividend payout ratio (DPR) is presently 65.25%.
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MDU Resources Group Company Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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