MDU Resources Group, Inc. (MDU) Position Raised by Legal & General Group Plc
Legal & General Group Plc boosted its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 1.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 886,761 shares of the utilities provider’s stock after buying an additional 12,037 shares during the period. Legal & General Group Plc owned 0.45% of MDU Resources Group worth $23,236,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. purchased a new position in shares of MDU Resources Group during the first quarter worth about $1,321,000. State Board of Administration of Florida Retirement System boosted its position in shares of MDU Resources Group by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 346,981 shares of the utilities provider’s stock worth $9,497,000 after buying an additional 1,231 shares during the period. Tyers Asset Management LLC boosted its position in shares of MDU Resources Group by 90.1% in the first quarter. Tyers Asset Management LLC now owns 11,984 shares of the utilities provider’s stock worth $328,000 after buying an additional 5,680 shares during the period. State Treasurer State of Michigan boosted its position in shares of MDU Resources Group by 0.9% in the first quarter. State Treasurer State of Michigan now owns 79,362 shares of the utilities provider’s stock worth $2,172,000 after buying an additional 700 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of MDU Resources Group by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 231,440 shares of the utilities provider’s stock worth $6,327,000 after buying an additional 3,085 shares during the period. 63.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of MDU Resources Group, Inc. (MDU) opened at 27.04 on Friday. MDU Resources Group, Inc. has a 12 month low of $23.06 and a 12 month high of $29.92. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 23.51 and a beta of 0.91. The firm has a 50-day moving average of $26.04 and a 200-day moving average of $26.61.
MDU Resources Group (NYSE:MDU) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, analysts anticipate that MDU Resources Group, Inc. will post $1.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Thursday, September 14th will be issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, September 13th. MDU Resources Group’s dividend payout ratio (DPR) is presently 66.96%.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of MDU Resources Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. BidaskClub cut shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $32.33.
In other news, CEO David L. Goodin bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $25.57 per share, with a total value of $127,850.00. Following the acquisition, the chief executive officer now owns 95,210 shares of the company’s stock, valued at approximately $2,434,519.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.95% of the company’s stock.
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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