1,102,193 Shares in MDU Resources Group, Inc. $MDU Bought by Legal & General Group Plc

Legal & General Group Plc bought a new stake in shares of MDU Resources Group, Inc. (NYSE:MDU) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,102,193 shares of the utilities provider’s stock, valued at approximately $23,378,000.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of MDU Resources Group by 6,404.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,496 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 1,473 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in MDU Resources Group by 94.5% during the second quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 800 shares during the last quarter. Trust Co. of Vermont bought a new stake in MDU Resources Group during the second quarter worth approximately $39,000. Global Retirement Partners LLC raised its position in MDU Resources Group by 13,185.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,860 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,846 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of MDU Resources Group in the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

MDU Resources Group Trading Down 1.8%

MDU opened at $19.82 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.95 and a current ratio of 0.99. The stock’s 50 day moving average price is $20.70 and its 200-day moving average price is $21.08. MDU Resources Group, Inc. has a one year low of $15.76 and a one year high of $22.98. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 3.65 and a beta of 0.67.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. MDU Resources Group had a return on equity of 6.89% and a net margin of 10.75%.The firm had revenue of $375.30 million during the quarter, compared to analyst estimates of $396.56 million. During the same period last year, the company earned $0.07 EPS. MDU Resources Group’s quarterly revenue was up 6.8% compared to the same quarter last year. MDU Resources Group has set its FY 2026 guidance at 0.930-1.000 EPS. On average, equities analysts forecast that MDU Resources Group, Inc. will post 0.98 EPS for the current year.

MDU Resources Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 2.9%. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, September 10th. MDU Resources Group’s dividend payout ratio is 61.05%.

Wall Street Analyst Weigh In

MDU has been the subject of a number of recent research reports. TD Cowen lifted their target price on MDU Resources Group to $22.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of MDU Resources Group in a research report on Wednesday, July 8th. Wells Fargo & Company started coverage on shares of MDU Resources Group in a research note on Monday, July 13th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of MDU Resources Group from a “neutral” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.40.

MDU Resources Group Company Profile

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.