Bank of Montreal Can Has $1.47 Million Stake in MDU Resources Group, Inc. (NYSE:MDU)

Posted by on Apr 26th, 2023

Bank of Montreal Can lessened its stake in MDU Resources Group, Inc. (NYSE:MDU – Get Rating) by 68.1% during the fourth quarter, HoldingsChannel reports. The firm owned 47,858 shares of the utilities provider’s stock after selling 102,355 shares during the period. Bank of Montreal Can’s holdings in MDU Resources Group were worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in MDU Resources Group during the first quarter valued at about $124,000. American Century Companies Inc. increased its position in shares of MDU Resources Group by 21.3% during the first quarter. American Century Companies Inc. now owns 20,101 shares of the utilities provider’s stock valued at $536,000 after acquiring an additional 3,523 shares in the last quarter. Citigroup Inc. grew its position in MDU Resources Group by 119.7% in the 1st quarter. Citigroup Inc. now owns 67,933 shares of the utilities provider’s stock worth $1,811,000 after purchasing an additional 37,018 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in MDU Resources Group in the 1st quarter worth approximately $771,000. Finally, MetLife Investment Management LLC boosted its stake in shares of MDU Resources Group by 33.4% during the 1st quarter. MetLife Investment Management LLC now owns 131,476 shares of the utilities provider’s stock worth $3,504,000 after acquiring an additional 32,930 shares during the last quarter. Institutional investors own 70.83% of the company’s stock.

MDU Resources Group Trading Down 1.8 %

NYSE:MDU opened at $29.16 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.77. MDU Resources Group, Inc. has a 52 week low of $24.92 and a 52 week high of $32.53. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.58 and a beta of 0.75. The firm has a 50 day moving average of $30.29 and a 200 day moving average of $30.11.

MDU Resources Group (NYSE:MDU – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.50 billion. MDU Resources Group had a net margin of 5.27% and a return on equity of 10.99%. MDU Resources Group’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. As a group, sell-side analysts anticipate that MDU Resources Group, Inc. will post 2 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Thursday, March 9th were issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 3.05%. The ex-dividend date was Wednesday, March 8th. MDU Resources Group’s payout ratio is 49.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 14th.

MDU Resources Group Company Profile

(Get Rating)

MDU Resources Group, Inc engages in the provision of natural resource products and related services to energy and transportation infrastructure. It operates through the following business segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, Construction Services, and Other.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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