Bank of Nova Scotia Sells 31,982 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Bank of Nova Scotia cut its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,690 shares of the utilities provider's stock after selling 31,982 shares during the quarter. Bank of Nova Scotia owned approximately 0.08% of MDU Resources Group worth $3,004,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in MDU Resources Group by 16.6% during the fourth quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider's stock valued at $414,414,000 after acquiring an additional 3,276,114 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of MDU Resources Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,719,543 shares of the utilities provider's stock valued at $101,978,000 after purchasing an additional 65,433 shares in the last quarter. Pertento Partners LLP grew its holdings in shares of MDU Resources Group by 90.3% during the 4th quarter. Pertento Partners LLP now owns 2,990,144 shares of the utilities provider's stock valued at $53,882,000 after purchasing an additional 1,419,118 shares during the last quarter. Norges Bank bought a new stake in MDU Resources Group in the fourth quarter worth $40,857,000. Finally, Charles Schwab Investment Management Inc. boosted its position in MDU Resources Group by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,179,357 shares of the utilities provider's stock valued at $39,272,000 after buying an additional 96,889 shares during the period. 71.44% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at MDU Resources Group

In other news, Director Dennis W. Johnson purchased 30,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average cost of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the transaction, the director now directly owns 180,166 shares of the company's stock, valued at $2,997,962.24. This trade represents a 19.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

MDU has been the topic of several analyst reports. Jefferies Financial Group started coverage on MDU Resources Group in a report on Wednesday, January 8th. They issued a "hold" rating and a $18.00 price objective on the stock. StockNews.com downgraded MDU Resources Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $21.00.

MDU Resources Group Trading Up 0.7 %

Shares of NYSE:MDU traded up $0.12 during midday trading on Tuesday, hitting $16.79. 909,172 shares of the stock traded hands, compared to its average volume of 2,514,271. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3.43 billion, a PE ratio of 12.16, a P/E/G ratio of 2.76 and a beta of 0.68. MDU Resources Group, Inc. has a one year low of $12.99 and a one year high of $20.39. The business's 50 day moving average is $16.69 and its two-hundred day moving average is $19.45.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.34 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.52 annualized dividend and a yield of 3.10%. MDU Resources Group's dividend payout ratio (DPR) is presently 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.