MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 96.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,600 shares of the utilities provider's stock after selling 232,501 shares during the quarter. Corebridge Financial Inc.'s holdings in MDU Resources Group were worth $155,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MDU. Vanguard Group Inc. grew its stake in shares of MDU Resources Group by 16.6% in the fourth quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider's stock worth $414,414,000 after acquiring an additional 3,276,114 shares during the period. Geode Capital Management LLC increased its holdings in 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 worth $101,978,000 after acquiring an additional 65,433 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MDU Resources Group by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,179,357 shares of the utilities provider's stock valued at $39,272,000 after purchasing an additional 96,889 shares during the period. Hennessy Advisors Inc. lifted its position in shares of MDU Resources Group by 1,098.5% in the fourth quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider's stock valued at $38,833,000 after acquiring an additional 1,975,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in MDU Resources Group by 18.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,114,019 shares of the utilities provider's stock worth $37,926,000 after purchasing an additional 331,481 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

Insider Buying and Selling

In other news, Director Dennis W. Johnson bought 30,000 shares of the stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the purchase, the director now directly owns 180,166 shares in the company, valued at approximately $2,997,962.24. The trade was a 19.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of MDU Resources Group from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Jefferies Financial Group started coverage on shares of MDU Resources Group in a research note on Wednesday, January 8th. They issued a "hold" rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.00.

MDU Resources Group Stock Up 0.1 %

NYSE:MDU traded up $0.03 during mid-day trading on Friday, reaching $16.78. The company's stock had a trading volume of 967,855 shares, compared to its average volume of 2,513,024. 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 firm has a market capitalization of $3.43 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68. The stock has a fifty day moving average of $16.70 and a 200-day moving average of $19.23. MDU Resources Group, Inc. has a 1 year low of $13.23 and a 1 year high of $20.39.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. Equities research analysts forecast that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.10%. MDU Resources Group's dividend payout ratio is presently 37.68%.

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.