US Bancorp DE Has $28.57 Million Holdings in MDU Resources Group, Inc. $MDU

Key Points

• US Bancorp DE reduced its stake in MDU Resources Group by 1.0%, holding $28.57 million worth of shares after selling 16,500 during the second quarter.
• MDU Resources Group reported a Q2 EPS of $0.07, missing estimates, but showed revenue growth of 1.9% year-over-year with earnings guidance of 0.880-0.950 for FY 2025.
• The company increased its quarterly dividend to $0.14 per share, representing a 3.0% yield, up from the previous $0.13 per share.

US Bancorp DE lessened its stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,713,789 shares of the utilities provider's stock after selling 16,500 shares during the quarter. US Bancorp DE owned 0.84% of MDU Resources Group worth $28,569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MDU. Adage Capital Partners GP L.L.C. boosted its holdings in shares of MDU Resources Group by 195.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,548,864 shares of the utilities provider's stock valued at $26,191,000 after buying an additional 1,023,864 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in MDU Resources Group during the first quarter worth $14,636,000. Hotchkis & Wiley Capital Management LLC acquired a new position in MDU Resources Group during the first quarter worth $12,361,000. Invesco Ltd. boosted its holdings in MDU Resources Group by 30.1% during the first quarter. Invesco Ltd. now owns 3,124,863 shares of the utilities provider's stock worth $52,841,000 after purchasing an additional 723,560 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in MDU Resources Group by 103.1% during the first quarter. Millennium Management LLC now owns 1,343,979 shares of the utilities provider's stock worth $22,727,000 after purchasing an additional 682,098 shares during the last quarter. Institutional investors and hedge funds own 71.44% of the company's stock.

MDU Resources Group Stock Performance

Shares of MDU stock opened at $18.75 on Friday. The stock has a market cap of $3.83 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.88 and a beta of 0.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.74 and a quick ratio of 0.71. The company has a fifty day moving average price of $16.84 and a two-hundred day moving average price of $16.81. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). The firm had revenue of $351.20 million during the quarter, compared to analyst estimates of $315.67 million. MDU Resources Group had a net margin of 8.25% and a return on equity of 8.29%. The business's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. As a group, equities analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Thursday, September 11th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's dividend payout ratio is 52.83%.

Analyst Ratings Changes

Several brokerages recently commented on MDU. Wall Street Zen cut shares of MDU Resources Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Weiss Ratings upgraded shares of MDU Resources Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Finally, Jefferies Financial Group upgraded shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a report on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

Insider Activity

In related news, CFO Jason L. Vollmer bought 5,000 shares of the business's stock in a transaction dated Monday, September 8th. The stock was bought at an average price of $16.07 per share, for a total transaction of $80,350.00. Following the purchase, the chief financial officer owned 344,548 shares in the company, valued at $5,536,886.36. This represents a 1.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.94% of the company's stock.

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.

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