Northern Trust Corp Sells 13,571 Shares of MDU Resources Group, Inc. (MDU)
Northern Trust Corp lessened its position in MDU Resources Group, Inc. (NYSE:MDU) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,646,904 shares of the utilities provider’s stock after selling 13,571 shares during the quarter. Northern Trust Corp owned approximately 0.84% of MDU Resources Group worth $43,149,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in MDU. BlackRock Inc. raised its position in 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 last quarter. Vanguard Group Inc. raised its position in 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 last quarter. Copper Rock Capital Partners LLC acquired a new stake in MDU Resources Group in the 2nd quarter valued at approximately $24,866,000. Citadel Advisors LLC raised its position in 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 last quarter. Finally, First Trust Advisors LP raised its position in 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 last quarter. 63.56% of the stock is currently owned by institutional investors and hedge funds.
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A number of brokerages recently issued reports on MDU. Zacks Investment Research raised MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, KeyCorp restated a “buy” rating and issued a $28.00 price target on shares of MDU Resources Group in a research note on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.75.
MDU Resources Group, Inc. (NYSE:MDU) opened at 26.87 on Wednesday. MDU Resources Group, Inc. has a 1-year low of $24.51 and a 1-year high of $29.92. The firm has a 50-day moving average price of $26.66 and a 200-day moving average price of $26.59. The company has a market capitalization of $5.25 billion, a P/E ratio of 23.37 and a beta of 0.91.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. On average, analysts forecast that MDU Resources Group, Inc. will post $1.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Thursday, September 14th were paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Wednesday, September 13th. MDU Resources Group’s dividend payout ratio (DPR) is presently 66.96%.
In related news, CEO David L. Goodin acquired 5,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $25.57 per share, with a total value of $127,850.00. Following the completion of the purchase, the chief executive officer now directly owns 95,210 shares in the company, valued at approximately $2,434,519.70. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.95% of the company’s stock.
MDU Resources Group 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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