Prudential Financial Inc. Sells 209,636 Shares of MDU Resources Group, Inc. (MDU)
Prudential Financial Inc. lowered its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,336,885 shares of the utilities provider’s stock after selling 209,636 shares during the period. Prudential Financial Inc. owned approximately 0.68% of MDU Resources Group worth $35,026,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of The West raised its stake in MDU Resources Group by 0.3% in the second quarter. Bank of The West now owns 8,083 shares of the utilities provider’s stock valued at $212,000 after buying an additional 24 shares during the last quarter. IFP Advisors Inc raised its stake in MDU Resources Group by 0.7% in the second quarter. IFP Advisors Inc now owns 9,713 shares of the utilities provider’s stock valued at $254,000 after buying an additional 66 shares during the last quarter. Capstone Asset Management Co. raised its stake in MDU Resources Group by 0.4% in the second quarter. Capstone Asset Management Co. now owns 22,454 shares of the utilities provider’s stock valued at $588,000 after buying an additional 90 shares during the last quarter. Hanseatic Management Services Inc. raised its stake in MDU Resources Group by 0.6% in the first quarter. Hanseatic Management Services Inc. now owns 29,963 shares of the utilities provider’s stock valued at $820,000 after buying an additional 170 shares during the last quarter. Finally, World Asset Management Inc raised its stake in MDU Resources Group by 1.3% in the first quarter. World Asset Management Inc now owns 13,759 shares of the utilities provider’s stock valued at $377,000 after buying an additional 180 shares during the last quarter. Institutional investors own 63.59% of the company’s stock.
MDU Resources Group, Inc. (NYSE MDU) opened at 27.04 on Friday. MDU Resources Group, Inc. has a 52-week low of $23.06 and a 52-week high of $29.92. The stock’s 50 day moving average price is $26.04 and its 200-day moving average price is $26.61. The company has a market cap of $5.28 billion, a P/E ratio of 23.51 and a beta of 0.91.
MDU Resources Group (NYSE:MDU) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing the Zacks’ 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 business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. MDU Resources Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Thursday, September 14th will be given a $0.1925 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.77 dividend on an annualized basis and a yield of 2.85%. MDU Resources Group’s dividend payout ratio is currently 66.96%.
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MDU has been the topic of several research analyst reports. Zacks Investment Research downgraded MDU Resources Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 28th. BidaskClub downgraded MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $32.33.
In other MDU Resources Group news, CEO David L. Goodin bought 5,000 shares of MDU Resources Group stock in a transaction on Friday, August 11th. The shares were bought at an average price 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 $2,434,519.70. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.95% of the stock is owned by insiders.
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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