Bank of Nova Scotia Decreases Stake in MDU Resources Group, Inc. (NYSE:MDU)

Bank of Nova Scotia lessened its stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 31.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,814 shares of the utilities provider's stock after selling 51,876 shares during the period. Bank of Nova Scotia owned about 0.06% of MDU Resources Group worth $1,942,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. First Trust Advisors LP increased its holdings in shares of MDU Resources Group by 132.0% in the 4th quarter. First Trust Advisors LP now owns 6,999,856 shares of the utilities provider's stock valued at $126,137,000 after acquiring an additional 3,982,783 shares during the period. Dimensional Fund Advisors LP boosted its position in MDU Resources Group by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,186,994 shares of the utilities provider's stock valued at $147,530,000 after purchasing an additional 467,355 shares in the last quarter. Millennium Management LLC boosted its position in MDU Resources Group by 102.3% during the fourth quarter. Millennium Management LLC now owns 661,881 shares of the utilities provider's stock valued at $11,927,000 after purchasing an additional 334,713 shares in the last quarter. Victory Capital Management Inc. grew its stake in MDU Resources Group by 217.5% in the first quarter. Victory Capital Management Inc. now owns 480,353 shares of the utilities provider's stock valued at $8,123,000 after purchasing an additional 329,064 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in MDU Resources Group by 162.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 525,000 shares of the utilities provider's stock worth $9,460,000 after purchasing an additional 325,000 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

MDU Resources Group Stock Down 6.7%

NYSE MDU traded down $1.17 on Thursday, hitting $16.33. The stock had a trading volume of 3,106,664 shares, compared to its average volume of 1,220,412. The business's fifty day moving average price is $16.77 and its 200 day moving average price is $16.91. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 2.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.85 and a quick ratio of 0.82. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). MDU Resources Group had a return on equity of 9.86% and a net margin of 7.93%. The business had revenue of $351.20 million during the quarter, compared to analyst estimates of $315.67 million. During the same period in the previous year, the business earned $0.32 EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.2%. MDU Resources Group's payout ratio is 40.31%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of MDU Resources Group from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

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.