State Board of Administration of Florida Retirement System lowered its stake in MDU Resources Group, Inc. (NYSE:MDU) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,125 shares of the utilities provider’s stock after selling 17,997 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of MDU Resources Group worth $9,218,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in MDU. Amundi Pioneer Asset Management Inc. grew its position in shares of MDU Resources Group by 3.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 109,815 shares of the utilities provider’s stock worth $2,836,000 after purchasing an additional 3,373 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of MDU Resources Group by 5.8% during the first quarter. Victory Capital Management Inc. now owns 54,311 shares of the utilities provider’s stock worth $1,717,000 after purchasing an additional 2,956 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of MDU Resources Group by 11.5% during the first quarter. Envestnet Asset Management Inc. now owns 54,753 shares of the utilities provider’s stock worth $1,731,000 after purchasing an additional 5,651 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in shares of MDU Resources Group during the first quarter worth about $210,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of MDU Resources Group during the first quarter worth about $555,000. Hedge funds and other institutional investors own 68.20% of the company’s stock.
Separately, Zacks Investment Research upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Monday, September 13th.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, August 4th. The utilities provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.46 billion. MDU Resources Group had a net margin of 7.43% and a return on equity of 13.47%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. On average, analysts anticipate that MDU Resources Group, Inc. will post 2.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Thursday, September 9th will be issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, September 8th. MDU Resources Group’s dividend payout ratio (DPR) is 43.59%.
MDU Resources Group Company Profile
MDU Resources Group, Inc engages in the provision of natural resource products and related services to energy and transportation infrastructure. It operates through the following business segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, Construction Services, and Other.
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