Public Employees Retirement Association of Colorado lessened its holdings in shares of Mdu Resources Group Inc (NYSE:MDU) by 20.8% during the first quarter, HoldingsChannel reports. The firm owned 26,995 shares of the utilities provider’s stock after selling 7,078 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Mdu Resources Group were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in MDU. Norges Bank acquired a new position in shares of Mdu Resources Group during the 4th quarter worth approximately $51,986,000. Oregon Public Employees Retirement Fund boosted its position in shares of Mdu Resources Group by 2,284.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,839,065 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 1,761,923 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of Mdu Resources Group by 1,368.8% during the 3rd quarter. Federated Investors Inc. PA now owns 1,634,653 shares of the utilities provider’s stock worth $41,994,000 after acquiring an additional 1,523,364 shares in the last quarter. BlackRock Inc. boosted its position in shares of Mdu Resources Group by 4.1% during the 4th quarter. BlackRock Inc. now owns 18,376,417 shares of the utilities provider’s stock worth $438,095,000 after acquiring an additional 723,202 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Mdu Resources Group by 99.2% during the 4th quarter. Acadian Asset Management LLC now owns 1,160,879 shares of the utilities provider’s stock worth $27,675,000 after acquiring an additional 578,110 shares in the last quarter. Hedge funds and other institutional investors own 65.20% of the company’s stock.
In other news, Director David M. Sparby purchased 3,000 shares of Mdu Resources Group stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $25.75 per share, for a total transaction of $77,250.00. Following the transaction, the director now owns 4,726 shares of the company’s stock, valued at approximately $121,694.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.
Mdu Resources Group (NYSE:MDU) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1,000.00 million. Mdu Resources Group had a return on equity of 10.58% and a net margin of 5.83%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. Equities analysts expect that Mdu Resources Group Inc will post 1.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, June 13th will be given a dividend of $0.2025 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $0.81 annualized dividend and a dividend yield of 3.20%. Mdu Resources Group’s dividend payout ratio is 58.70%.
Separately, Williams Capital set a $30.00 price target on shares of Mdu Resources Group and gave the stock a “buy” rating in a research report on Thursday, May 2nd.
Mdu Resources Group Company Profile
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.
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