Allianz Asset Management GmbH trimmed its position in shares of MDU Resources Group Inc (NYSE:MDU) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,396 shares of the utilities provider’s stock after selling 54,160 shares during the period. Allianz Asset Management GmbH owned approximately 0.18% of MDU Resources Group worth $9,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of MDU Resources Group during the 4th quarter worth approximately $118,000. Sei Investments Co. raised its holdings in MDU Resources Group by 47.4% during the 3rd quarter. Sei Investments Co. now owns 7,509 shares of the utilities provider’s stock valued at $195,000 after buying an additional 2,414 shares during the period. Wedbush Securities Inc. purchased a new stake in MDU Resources Group during the 4th quarter valued at $213,000. X Square Capital LLC purchased a new stake in MDU Resources Group during the 4th quarter valued at $233,000. Finally, Parametrica Management Ltd purchased a new stake in MDU Resources Group during the 4th quarter valued at $248,000. 64.06% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Williams Capital decreased their price target on MDU Resources Group from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. ValuEngine upgraded MDU Resources Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. KeyCorp restated a “buy” rating and set a $29.50 price target on shares of MDU Resources Group in a report on Friday, December 15th. Finally, Zacks Investment Research upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.17.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, February 7th. The utilities provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.07. MDU Resources Group had a return on equity of 19.35% and a net margin of 9.90%. The company had revenue of $1.17 billion for the quarter. During the same quarter in the previous year, the company posted $0.33 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. equities analysts forecast that MDU Resources Group Inc will post 1.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Thursday, March 8th will be given a $0.1975 dividend. This represents a $0.79 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Wednesday, March 7th. MDU Resources Group’s dividend payout ratio (DPR) is presently 54.48%.
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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