Raymond James & Associates Sells 602 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Raymond James & Associates lessened its position in MDU Resources Group, Inc. (NYSE:MDU – Get Rating) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 245,428 shares of the utilities provider’s stock after selling 602 shares during the period. Raymond James & Associates’ holdings in MDU Resources Group were worth $7,446,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MDU. Fairfield Bush & CO. bought a new stake in MDU Resources Group during the first quarter worth about $124,000. American Century Companies Inc. raised its holdings 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 purchasing an additional 3,523 shares during the last quarter. Citigroup Inc. increased its holdings in MDU Resources Group by 119.7% during the first quarter. Citigroup Inc. now owns 67,933 shares of the utilities provider’s stock valued at $1,811,000 after buying an additional 37,018 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in MDU Resources Group during the first quarter valued at approximately $771,000. Finally, MetLife Investment Management LLC increased its stake in shares of MDU Resources Group by 33.4% in the first quarter. MetLife Investment Management LLC now owns 131,476 shares of the utilities provider’s stock worth $3,504,000 after purchasing an additional 32,930 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of MDU Resources Group in a research note on Tuesday, May 16th. They set a “buy” rating for the company.

MDU Resources Group Price Performance

MDU Resources Group stock opened at $29.32 on Friday. MDU Resources Group, Inc. has a 12-month low of $25.21 and a 12-month high of $32.53. The firm has a 50-day moving average price of $29.47 and a 200-day moving average price of $30.20. The firm has a market capitalization of $5.97 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.75. The company has a current ratio of 1.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77.

MDU Resources Group (NYSE:MDU – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. MDU Resources Group had a net margin of 5.13% and a return on equity of 11.25%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business posted $0.16 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities research analysts forecast that MDU Resources Group, Inc. will post 2 EPS for the current year.

MDU Resources Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Tuesday, June 13th will be given a $0.2225 dividend. This represents a $0.89 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, June 12th. MDU Resources Group’s payout ratio is 48.37%.

MDU Resources Group Company Profile

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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.