MDU Resources Group, Inc. (NYSE:MDU) Holdings Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 31.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,242 shares of the utilities provider's stock after selling 29,188 shares during the quarter. PNC Financial Services Group Inc.'s holdings in MDU Resources Group were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in shares of MDU Resources Group in the 3rd quarter valued at approximately $2,234,000. SG Americas Securities LLC purchased a new position in MDU Resources Group in the second quarter worth about $2,198,000. Resolute Capital Asset Partners LLC purchased a new position in MDU Resources Group during the second quarter valued at $2,008,000. Algert Global LLC bought a new position in shares of MDU Resources Group in the second quarter worth approximately $1,281,000. Finally, Riverwater Partners LLC bought a new stake in MDU Resources Group during the 3rd quarter valued at approximately $1,348,000. Institutional investors own 71.44% of the company's stock.

MDU Resources Group Trading Down 0.5 %

MDU Resources Group stock traded down $0.11 during trading on Wednesday, hitting $20.05. The company had a trading volume of 1,992,888 shares, compared to its average volume of 1,613,213. The company's 50 day simple moving average is $24.54 and its 200-day simple moving average is $25.04. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 2.60 and a beta of 0.76. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its earnings results 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 company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. As a group, analysts expect that MDU Resources Group, Inc. will post 1.13 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 annualized dividend and a yield of 2.59%. MDU Resources Group's payout ratio is currently 26.67%.

Analyst Ratings Changes

A number of research firms recently issued reports on MDU. Bank of America raised shares of MDU Resources Group from a "neutral" rating to a "buy" rating and decreased their price target for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th. Siebert Williams Shank upgraded MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a report on Monday, November 4th. Finally, StockNews.com initiated coverage on shares of MDU Resources Group in a report on Tuesday, November 5th. They set a "hold" rating on the stock.

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.