Bank of Nova Scotia Sells 252,199 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Bank of Nova Scotia lowered its stake in MDU Resources Group, Inc. (NYSE:MDUGet Rating) by 90.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,007 shares of the utilities provider’s stock after selling 252,199 shares during the quarter. Bank of Nova Scotia’s holdings in MDU Resources Group were worth $702,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MDU. Total Clarity Wealth Management Inc. acquired a new position in shares of MDU Resources Group in the second quarter valued at approximately $27,000. Venture Visionary Partners LLC acquired a new position in shares of MDU Resources Group in the second quarter valued at approximately $53,000. Herold Advisors Inc. acquired a new position in shares of MDU Resources Group in the first quarter valued at approximately $53,000. CENTRAL TRUST Co increased its stake in shares of MDU Resources Group by 42.9% in the first quarter. CENTRAL TRUST Co now owns 2,141 shares of the utilities provider’s stock valued at $57,000 after buying an additional 643 shares during the period. Finally, Heritage Financial Services LLC acquired a new position in shares of MDU Resources Group in the second quarter valued at approximately $66,000. Institutional investors own 71.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America downgraded MDU Resources Group from a “neutral” rating to an “underperform” rating in a research note on Monday, October 24th. Citigroup increased their target price on shares of MDU Resources Group to $31.00 in a research report on Monday, August 15th. Finally, StockNews.com started coverage on shares of MDU Resources Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

MDU Resources Group Stock Performance

NYSE:MDU opened at $30.57 on Friday. The company has a market capitalization of $6.22 billion, a PE ratio of 18.42, a P/E/G ratio of 2.91 and a beta of 0.72. The company has a 50 day simple moving average of $28.76 and a two-hundred day simple moving average of $28.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.11 and a current ratio of 1.38. MDU Resources Group, Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $32.19.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 8th will be given a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Wednesday, December 7th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.22. MDU Resources Group’s dividend payout ratio is currently 52.41%.

MDU Resources Group Company Profile

(Get Rating)

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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

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