MDU Resources Group, Inc. (MDU) Position Cut by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. cut its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,309 shares of the utilities provider’s stock after selling 162 shares during the period. PNC Financial Services Group Inc.’s holdings in MDU Resources Group were worth $2,341,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MDU. Russell Investments Group Ltd. boosted its holdings in MDU Resources Group by 39.9% in the 1st quarter. Russell Investments Group Ltd. now owns 48,631 shares of the utilities provider’s stock valued at $1,331,000 after purchasing an additional 13,868 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of MDU Resources Group in the 1st quarter valued at approximately $1,321,000. UBS Asset Management Americas Inc. grew its stake in shares of MDU Resources Group by 5.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 160,467 shares of the utilities provider’s stock valued at $4,392,000 after buying an additional 8,439 shares during the period. Karp Capital Management Corp purchased a new stake in shares of MDU Resources Group in the 1st quarter valued at approximately $1,320,000. Finally, Sei Investments Co. grew its stake in shares of MDU Resources Group by 15.8% in the 1st quarter. Sei Investments Co. now owns 8,013 shares of the utilities provider’s stock valued at $219,000 after buying an additional 1,091 shares during the period. 63.55% of the stock is currently owned by institutional investors.
Shares of MDU Resources Group, Inc. (MDU) opened at 25.95 on Monday. MDU Resources Group, Inc. has a 12 month low of $24.49 and a 12 month high of $29.92. The firm has a market capitalization of $5.07 billion, a P/E ratio of 22.57 and a beta of 0.91. The company’s 50 day moving average price is $26.49 and its 200-day moving average price is $26.64.
MDU Resources Group (NYSE:MDU) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The firm 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 firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. On average, equities analysts predict that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Thursday, September 14th were issued a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Wednesday, September 13th. MDU Resources Group’s dividend payout ratio (DPR) is 66.96%.
In other MDU Resources Group news, CEO David L. Goodin acquired 5,000 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $25.57 per share, with a total value of $127,850.00. Following the completion of the transaction, the chief executive officer now directly owns 95,210 shares in the company, valued at $2,434,519.70. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.95% of the stock is owned by company insiders.
MDU has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub cut MDU Resources Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, KeyCorp reiterated a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a report on Friday, September 1st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.25.
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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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