Principal Financial Group Inc. Reduces Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

Principal Financial Group Inc. lessened its position in MDU Resources Group, Inc. (NYSE:MDU) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 472,130 shares of the utilities provider’s stock after selling 206,768 shares during the period. Principal Financial Group Inc.’s holdings in MDU Resources Group were worth $12,941,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MDU. V Square Quantitative Management LLC purchased a new stake in shares of MDU Resources Group during the third quarter worth about $25,000. Atlas Capital Advisors LLC bought a new position in MDU Resources Group during the 2nd quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. raised its position in MDU Resources Group by 23.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. lifted its holdings in MDU Resources Group by 238.1% in the 3rd quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock worth $74,000 after buying an additional 2,067 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MDU Resources Group in the 2nd quarter worth approximately $163,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MDU has been the subject of a number of recent analyst reports. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and decreased their target price for the company from $31.00 to $17.00 in a report on Tuesday, November 5th. StockNews.com assumed coverage on shares of MDU Resources Group in a report on Tuesday, November 5th. They issued a “hold” rating for the company. Finally, Siebert Williams Shank raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Monday, November 4th.

MDU Resources Group Stock Up 2.5 %

Shares of NYSE:MDU opened at $18.34 on Friday. The firm has a market capitalization of $3.74 billion, a P/E ratio of 9.41, a P/E/G ratio of 2.36 and a beta of 0.76. 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 stock has a 50 day moving average price of $25.47 and a 200-day moving average price of $25.32. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. As a group, equities research analysts anticipate that MDU Resources Group, Inc. will post 1.13 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 2.84%. MDU Resources Group’s dividend payout ratio (DPR) is currently 26.67%.

About MDU Resources Group

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.