MDU Resources Group, Inc. (MDU) Shares Sold by Wells Fargo & Company MN
Wells Fargo & Company MN decreased its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 25.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 512,717 shares of the utilities provider’s stock after selling 172,194 shares during the period. Wells Fargo & Company MN owned about 0.26% of MDU Resources Group worth $13,433,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. AT Bancorp bought a new stake in MDU Resources Group in the second quarter valued at approximately $131,000. Global X Management Co. LLC raised its stake in MDU Resources Group by 220.3% in the second quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock valued at $162,000 after buying an additional 4,263 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MDU Resources Group by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock valued at $175,000 after buying an additional 537 shares during the period. Mosaic Family Wealth LLC raised its stake in MDU Resources Group by 5.7% in the second quarter. Mosaic Family Wealth LLC now owns 6,972 shares of the utilities provider’s stock valued at $183,000 after buying an additional 374 shares during the period. Finally, Ffcm LLC raised its stake in MDU Resources Group by 5.7% in the second quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock valued at $193,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 63.55% of the company’s stock.
Several analysts have issued reports on MDU shares. KeyCorp restated a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a research note on Friday, September 1st. Zacks Investment Research upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, BidaskClub upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. MDU Resources Group presently has a consensus rating of “Hold” and a consensus target price of $31.25.
In other news, CEO David L. Goodin acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $25.57 per share, for a total transaction of $127,850.00. Following the completion of the purchase, the chief executive officer now owns 95,210 shares in the company, valued at $2,434,519.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.95% of the stock is currently owned by corporate insiders.
MDU Resources Group, Inc. (NYSE:MDU) opened at 25.95 on Friday. MDU Resources Group, Inc. has a 52 week low of $24.49 and a 52 week high of $29.92. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 22.57 and a beta of 0.92. The stock’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 posted 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). MDU Resources Group had a net margin of 5.37% and a return on equity of 10.24%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.24 EPS. MDU Resources Group’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Thursday, September 14th will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.77 annualized dividend and a yield of 2.97%. MDU Resources Group’s payout ratio is 66.96%.
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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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