MDU Resources Group, Inc. (NYSE:MDU) is Corvex Management LP’s 8th Largest Position

Corvex Management LP decreased its position in MDU Resources Group, Inc. (NYSE:MDU) by 29.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,108,829 shares of the utilities provider’s stock after selling 3,038,212 shares during the quarter. MDU Resources Group makes up approximately 3.6% of Corvex Management LP’s portfolio, making the stock its 8th largest position. Corvex Management LP owned about 3.49% of MDU Resources Group worth $128,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. raised its stake in shares of MDU Resources Group by 164.4% during the 4th quarter. Principal Securities Inc. now owns 1,470 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 914 shares during the period. V Square Quantitative Management LLC raised its position in MDU Resources Group by 99.6% in the fourth quarter. V Square Quantitative Management LLC now owns 1,834 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 915 shares during the period. Crews Bank & Trust purchased a new position in MDU Resources Group in the fourth quarter valued at about $39,000. Atlas Capital Advisors Inc. grew its position in shares of MDU Resources Group by 84.4% during the 4th quarter. Atlas Capital Advisors Inc. now owns 2,487 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 1,138 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of MDU Resources Group during the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MDU shares. StockNews.com cut shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Jefferies Financial Group assumed coverage on MDU Resources Group in a research note on Wednesday, January 8th. They set a “hold” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

Insider Transactions at MDU Resources Group

In other news, Director Dennis W. Johnson acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average cost of $16.64 per share, with a total value of $499,200.00. Following the acquisition, the director now owns 180,166 shares in the company, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is currently owned by insiders.

MDU Resources Group Trading Down 0.4 %

Shares of MDU stock opened at $17.46 on Tuesday. MDU Resources Group, Inc. has a 52-week low of $13.23 and a 52-week high of $20.39. The business’s fifty day moving average is $16.75 and its 200 day moving average is $18.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market capitalization of $3.57 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. On average, equities research analysts anticipate that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Thursday, March 13th. MDU Resources Group’s dividend payout ratio (DPR) is currently 37.68%.

MDU Resources Group Company Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, 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 82 transmission and 298 distribution substations.