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

PNC Financial Services Group Inc. cut its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 54.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,114 shares of the utilities provider’s stock after selling 34,128 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MDU Resources Group were worth $525,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC lifted its position in MDU Resources Group by 13.4% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 17,130 shares of the utilities provider’s stock worth $311,000 after buying an additional 2,019 shares during the period. Inceptionr LLC purchased a new position in MDU Resources Group during the fourth quarter worth about $255,000. Raymond James Financial Inc. purchased a new position in MDU Resources Group during the fourth quarter worth about $861,000. Charles Schwab Investment Management Inc. raised its holdings in shares of MDU Resources Group by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,179,357 shares of the utilities provider’s stock worth $39,272,000 after purchasing an additional 96,889 shares during the period. Finally, Unified Investment Management purchased a new position in shares of MDU Resources Group in the 4th quarter worth about $371,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MDU Resources Group

In related news, Director Dennis W. Johnson bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $16.64 per share, for a total transaction of $499,200.00. Following the acquisition, the director now owns 180,166 shares in the company, valued at $2,997,962.24. This represents a 19.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.59% of the company’s stock.

MDU Resources Group Stock Performance

Shares of NYSE:MDU opened at $17.16 on Thursday. The company has a market cap of $3.51 billion, a P/E ratio of 12.43, a PEG ratio of 2.76 and a beta of 0.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. MDU Resources Group, Inc. has a one year low of $12.43 and a one year high of $20.39. The business’s 50-day simple moving average is $17.28 and its 200 day simple moving average is $20.83.

MDU Resources Group (NYSE:MDU) last announced its earnings results on Thursday, February 6th. The utilities provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. On average, sell-side analysts forecast that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 3.03%. MDU Resources Group’s payout ratio is currently 37.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDU. Jefferies Financial Group began 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 report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, MDU Resources Group has an average rating of “Hold” and a consensus price target of $21.00.

MDU Resources Group 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.