MDU Resources Group, Inc. (MDU) Stake Maintained by Shelton Capital Management
Shelton Capital Management continued to hold its position in shares of MDU Resources Group, Inc. (NYSE:MDU) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,957 shares of the utilities provider’s stock at the end of the 2nd quarter. Shelton Capital Management’s holdings in MDU Resources Group were worth $392,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in MDU. BlackRock Inc. boosted its stake in shares of MDU Resources Group by 3,744.8% during the 1st quarter. BlackRock Inc. now owns 16,186,762 shares of the utilities provider’s stock worth $443,033,000 after purchasing an additional 15,765,763 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MDU Resources Group by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 22,988,073 shares of the utilities provider’s stock worth $629,183,000 after acquiring an additional 3,465,196 shares during the period. Copper Rock Capital Partners LLC purchased a new position in shares of MDU Resources Group during the 2nd quarter worth about $24,866,000. First Trust Advisors LP lifted its holdings in shares of MDU Resources Group by 55.7% during the 2nd quarter. First Trust Advisors LP now owns 1,162,242 shares of the utilities provider’s stock worth $30,451,000 after acquiring an additional 415,563 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of MDU Resources Group by 771.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 293,329 shares of the utilities provider’s stock worth $7,040,000 after acquiring an additional 259,672 shares during the period. 63.56% of the stock is currently owned by institutional investors.
In other MDU Resources Group news, CEO David L. Goodin purchased 5,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $25.57 per share, for a total transaction of $127,850.00. Following the completion of the acquisition, 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 filing with the SEC, which can be accessed through the SEC website. 0.95% of the stock is owned by insiders.
Several research analysts recently commented on MDU shares. 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 raised shares of MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, September 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. MDU Resources Group has an average rating of “Hold” and a consensus target price of $30.75.
Shares of MDU Resources Group, Inc. (NYSE:MDU) opened at 26.94 on Thursday. The firm has a market cap of $5.26 billion, a P/E ratio of 23.43 and a beta of 0.91. MDU Resources Group, Inc. has a 52-week low of $24.70 and a 52-week high of $29.92. The stock’s 50 day moving average is $26.69 and its 200-day moving average is $26.59.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date was Wednesday, September 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.86%. MDU Resources Group’s dividend payout ratio (DPR) is presently 66.96%.
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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