Bank of Nova Scotia Has $3 Million Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Bank of Nova Scotia decreased its stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 16.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,690 shares of the utilities provider's stock after selling 31,982 shares during the period. Bank of Nova Scotia owned approximately 0.08% of MDU Resources Group worth $3,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. increased its holdings in MDU Resources Group by 164.4% during the 4th quarter. Principal Securities Inc. now owns 1,470 shares of the utilities provider's stock worth $26,000 after purchasing an additional 914 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of MDU Resources Group by 99.6% during the fourth quarter. V Square Quantitative Management LLC now owns 1,834 shares of the utilities provider's stock worth $33,000 after buying an additional 915 shares in the last quarter. Crews Bank & Trust acquired a new stake in MDU Resources Group in the 4th quarter valued at approximately $39,000. Atlas Capital Advisors Inc. raised its position in MDU Resources Group by 84.4% in the 4th quarter. Atlas Capital Advisors Inc. now owns 2,487 shares of the utilities provider's stock valued at $45,000 after buying an additional 1,138 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in MDU Resources Group by 19.4% in the 4th quarter. Blue Trust Inc. now owns 3,505 shares of the utilities provider's stock valued at $63,000 after acquiring an additional 570 shares in the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MDU Resources Group news, Director Dennis W. Johnson acquired 30,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the transaction, the director now directly owns 180,166 shares in the company, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

MDU Resources Group Stock Up 0.1 %

Shares of MDU Resources Group stock traded up $0.03 on Friday, reaching $16.78. 967,855 shares of the company were exchanged, compared to its average volume of 2,506,368. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.76 and a beta of 0.68. 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, Inc. has a one year low of $13.03 and a one year high of $20.39. The company has a 50-day moving average of $16.70 and a 200 day moving average of $19.36.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. On average, equities 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were paid 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 currently 37.68%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDU. Jefferies Financial Group started coverage on shares of 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 lowered shares of MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, MDU Resources Group currently 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.