Canada Pension Plan Investment Board Reduced Holding in MDU Resources Group Inc (MDU)

Canada Pension Plan Investment Board Reduced Holding in MDU Resources Group Inc (MDU)

Canada Pension Plan Investment Board lowered its position in shares of MDU Resources Group Inc (NYSE:MDU) by 34.8% during the first quarter, Holdings Channel reports. The firm owned 7,310 shares of the utilities provider’s stock after selling 3,900 shares during the period. Canada Pension Plan Investment Board’s holdings in MDU Resources Group were worth $200,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MDU. First National Bank Sioux Falls boosted its stake in MDU Resources Group by 663.0% in the third quarter. First National Bank Sioux Falls now owns 4,128 shares of the utilities provider’s stock worth $105,000 after buying an additional 3,587 shares during the period. Matarin Capital Management LLC acquired a new stake in MDU Resources Group during the third quarter worth $7,243,000. Parnassus Investments CA boosted its stake in MDU Resources Group by 5.2% in the third quarter. Parnassus Investments CA now owns 13,701,416 shares of the utilities provider’s stock worth $348,564,000 after buying an additional 674,888 shares during the period. Rainier Investment Management LLC acquired a new stake in MDU Resources Group during the third quarter worth $14,500,000. Finally, Advantus Capital Management Inc boosted its stake in MDU Resources Group by 0.5% in the third quarter. Advantus Capital Management Inc now owns 23,770 shares of the utilities provider’s stock worth $605,000 after buying an additional 117 shares during the period. 64.71% of the stock is currently owned by institutional investors.

MDU Resources Group Inc (NYSE:MDU) traded down 0.33% on Wednesday, hitting $27.23. 829,256 shares of the company were exchanged. MDU Resources Group Inc has a one year low of $22.47 and a one year high of $29.92. The stock has a 50 day moving average price of $26.71 and a 200 day moving average price of $27.59. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 69.82 and a beta of 0.87.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $937.90 million for the quarter, compared to analyst estimates of $921.39 million. MDU Resources Group had a net margin of 1.54% and a return on equity of 10.11%. During the same period in the previous year, the business earned $0.17 earnings per share. On average, equities research analysts forecast that MDU Resources Group Inc will post $1.20 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Thursday, June 8th will be given a $0.1925 dividend. The ex-dividend date is Tuesday, June 6th. This represents a $0.77 dividend on an annualized basis and a yield of 2.83%. MDU Resources Group’s dividend payout ratio (DPR) is presently 240.63%.

MDU has been the topic of a number of recent analyst reports. Zacks Investment Research cut MDU Resources Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 3rd. Argus cut MDU Resources Group from a “buy” rating to a “hold” rating in a report on Monday, February 13th. They noted that the move was a valuation call.

About MDU Resources Group

MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MDU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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