Moody Aldrich Partners LLC reduced its stake in shares of Mdu Resources Group Inc (NYSE:MDU) by 35.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,605 shares of the utilities provider’s stock after selling 6,236 shares during the period. Moody Aldrich Partners LLC’s holdings in Mdu Resources Group were worth $257,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in MDU. Norges Bank bought a new position in Mdu Resources Group during the 4th quarter worth $74,506,000. AJO LP raised its position in Mdu Resources Group by 839.0% during the 1st quarter. AJO LP now owns 2,123,481 shares of the utilities provider’s stock worth $45,654,000 after purchasing an additional 1,897,348 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Mdu Resources Group by 25.1% during the 1st quarter. Acadian Asset Management LLC now owns 4,585,271 shares of the utilities provider’s stock worth $98,580,000 after acquiring an additional 920,412 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in Mdu Resources Group by 145.8% during the 2nd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,468,830 shares of the utilities provider’s stock worth $32,578,000 after acquiring an additional 871,166 shares during the period. Finally, PGGM Investments acquired a new stake in Mdu Resources Group during the 1st quarter worth about $13,157,000. 68.49% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on MDU shares. Wells Fargo & Co decreased their price target on Mdu Resources Group from $33.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Citigroup decreased their price target on Mdu Resources Group from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $27.75.
Mdu Resources Group (NYSE:MDU) last issued its earnings results on Thursday, May 7th. The utilities provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.09). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1,000.00 million. Mdu Resources Group had a net margin of 5.87% and a return on equity of 11.47%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Equities analysts predict that Mdu Resources Group Inc will post 1.6 EPS for the current fiscal year.
In related news, CEO David L. Goodin purchased 5,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $19.25 per share, for a total transaction of $96,250.00. Following the purchase, the chief executive officer now owns 271,760 shares of the company’s stock, valued at $5,231,380. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David M. Sparby purchased 4,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $20.06 per share, with a total value of $80,240.00. Following the purchase, the director now directly owns 18,807 shares in the company, valued at approximately $377,268.42. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 16,500 shares of company stock valued at $332,985. 0.94% of the stock is currently owned by company insiders.
About Mdu Resources Group
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.
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