Parnassus Investments CA trimmed its position in shares of Mdu Resources Group Inc (NYSE:MDU) by 34.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,228,718 shares of the utilities provider’s stock after selling 4,860,194 shares during the period. Parnassus Investments CA owned 4.71% of Mdu Resources Group worth $220,013,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Mdu Resources Group by 3.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 16,618 shares of the utilities provider’s stock worth $396,000 after acquiring an additional 627 shares during the last quarter. ETF Managers Group LLC lifted its holdings in Mdu Resources Group by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 4,629 shares of the utilities provider’s stock valued at $110,000 after buying an additional 630 shares in the last quarter. Algert Global LLC bought a new stake in Mdu Resources Group during the 4th quarter valued at about $565,000. TD Asset Management Inc. lifted its holdings in Mdu Resources Group by 21.5% during the 4th quarter. TD Asset Management Inc. now owns 102,779 shares of the utilities provider’s stock valued at $2,450,000 after buying an additional 18,200 shares in the last quarter. Finally, Creative Planning lifted its holdings in Mdu Resources Group by 5.5% during the 4th quarter. Creative Planning now owns 14,622 shares of the utilities provider’s stock valued at $349,000 after buying an additional 762 shares in the last quarter. Hedge funds and other institutional investors own 63.12% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Mdu Resources Group from a “sell” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, January 3rd.
Shares of MDU opened at $25.80 on Tuesday. Mdu Resources Group Inc has a 1-year low of $22.73 and a 1-year high of $29.62. The stock has a market cap of $5.06 billion, a P/E ratio of 18.70, a P/E/G ratio of 2.86 and a beta of 0.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.67 and a quick ratio of 1.30.
Mdu Resources Group (NYSE:MDU) last announced its quarterly earnings data on Tuesday, February 5th. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Mdu Resources Group had a net margin of 6.01% and a return on equity of 10.91%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that Mdu Resources Group Inc will post 1.5 EPS for the current fiscal year.
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Mdu Resources Group Profile
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.
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