Victory Capital Management Inc. Sells 1,151 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Posted by Defense World Staff on Nov 1st, 2023

Victory Capital Management Inc. trimmed its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,355 shares of the utilities provider’s stock after selling 1,151 shares during the quarter. Victory Capital Management Inc.’s holdings in MDU Resources Group were worth $908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. EA Series Trust purchased a new position in shares of MDU Resources Group during the second quarter valued at $765,000. Oak Thistle LLC purchased a new position in MDU Resources Group in the second quarter valued at about $415,000. Simplicity Solutions LLC grew its stake in MDU Resources Group by 24.1% in the second quarter. Simplicity Solutions LLC now owns 98,899 shares of the utilities provider’s stock valued at $2,071,000 after purchasing an additional 19,203 shares during the last quarter. Patten Group Inc. grew its stake in MDU Resources Group by 1.1% in the second quarter. Patten Group Inc. now owns 48,797 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 549 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of MDU Resources Group by 5.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 46,924 shares of the utilities provider’s stock worth $983,000 after acquiring an additional 2,468 shares during the last quarter. 71.24% of the stock is currently owned by institutional investors.

MDU Resources Group Price Performance

Shares of MDU stock opened at $18.62 on Wednesday. MDU Resources Group, Inc. has a fifty-two week low of $18.17 and a fifty-two week high of $22.55. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 2.34 and a beta of 0.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.31 and a current ratio of 1.37. The stock’s 50-day simple moving average is $19.52 and its 200-day simple moving average is $22.42.

MDU Resources Group (NYSE:MDU – Get Free Report) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter. MDU Resources Group had a return on equity of 11.50% and a net margin of 6.51%. The firm had revenue of $1.09 billion during the quarter. As a group, equities analysts forecast that MDU Resources Group, Inc. will post 1.36 earnings per share for the current fiscal year.

MDU Resources Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Thursday, September 14th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, September 13th. MDU Resources Group’s dividend payout ratio (DPR) is 23.47%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on MDU Resources Group in a research note on Thursday, October 5th. They set a “hold” rating on the stock.

View Our Latest Analysis on MDU

MDU Resources Group Profile

(Free Report)

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 84 transmission and 294 distribution substations.