MDU Resources Group, Inc. (MDU) Stake Increased by Principal Financial Group Inc.
Principal Financial Group Inc. grew its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 826,507 shares of the utilities provider’s stock after buying an additional 25,864 shares during the quarter. Principal Financial Group Inc. owned about 0.42% of MDU Resources Group worth $21,654,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of MDU. BlackRock Inc. lifted its holdings in shares of MDU Resources Group by 3,744.8% in the 1st quarter. BlackRock Inc. now owns 16,186,762 shares of the utilities provider’s stock valued at $443,033,000 after buying an additional 15,765,763 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MDU Resources Group by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 22,988,073 shares of the utilities provider’s stock valued at $629,183,000 after buying an additional 3,465,196 shares during the period. Copper Rock Capital Partners LLC acquired a new stake in shares of MDU Resources Group in the 2nd quarter valued at approximately $24,866,000. Citadel Advisors LLC lifted its holdings in shares of MDU Resources Group by 2,417.7% in the 1st quarter. Citadel Advisors LLC now owns 711,589 shares of the utilities provider’s stock valued at $19,476,000 after buying an additional 683,325 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of MDU Resources Group by 55.7% in the 2nd quarter. First Trust Advisors LP now owns 1,162,242 shares of the utilities provider’s stock valued at $30,451,000 after buying an additional 415,563 shares during the period. 63.60% of the stock is owned by institutional investors and hedge funds.
In other news, CEO David L. Goodin bought 5,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $25.57 per share, for a total transaction of $127,850.00. Following the completion of the transaction, the chief executive officer now directly owns 95,210 shares of the company’s stock, valued at approximately $2,434,519.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research raised MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub raised MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, KeyCorp reissued a “buy” rating and issued a $28.00 price target on shares of MDU Resources Group in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. MDU Resources Group presently has an average rating of “Hold” and an average price target of $31.25.
MDU Resources Group, Inc. (NYSE MDU) opened at 27.24 on Wednesday. The stock has a market capitalization of $5.32 billion, a P/E ratio of 23.69 and a beta of 0.92. The company has a 50-day moving average price of $26.35 and a 200 day moving average price of $26.65. MDU Resources Group, Inc. has a 1-year low of $23.06 and a 1-year high of $29.92.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, equities analysts predict that MDU Resources Group, Inc. will post $1.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Thursday, September 14th will be given a dividend of $0.1925 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.77 annualized dividend and a dividend yield of 2.83%. MDU Resources Group’s dividend payout ratio is presently 66.96%.
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.
Receive News & Stock Ratings for MDU Resources Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDU Resources Group Inc. and related stocks with our FREE daily email newsletter.