Voya Investment Management LLC Cuts Stake in MDU Resources Group, Inc. $MDU

Key Points

• Voya Investment Management LLC reduced its stake in MDU Resources Group by 54.4% in the first quarter, ending with 46,100 shares valued at approximately $780,000.
• MDU Resources Group's CFO, Jason L. Vollmer, purchased 5,000 shares at an average price of $16.07, increasing his ownership by 1.47%.
• Analysts have mixed views on MDU, with Jefferies upgrading the stock to a "buy" rating and setting a target price of $20, while Wall Street Zen downgraded it to a "sell" rating.

Voya Investment Management LLC trimmed its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 54.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 46,100 shares of the utilities provider's stock after selling 54,896 shares during the quarter. Voya Investment Management LLC's holdings in MDU Resources Group were worth $780,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. raised its position in MDU Resources Group by 179.0% in the 1st quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock worth $25,000 after buying an additional 974 shares during the last quarter. GAMMA Investing LLC raised its position in MDU Resources Group by 241.9% in the 1st quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock worth $31,000 after buying an additional 1,304 shares during the last quarter. Headlands Technologies LLC purchased a new position in MDU Resources Group in the first quarter worth about $48,000. Wood Tarver Financial Group LLC purchased a new position in MDU Resources Group in the fourth quarter worth about $82,000. Finally, Garde Capital Inc. purchased a new position in MDU Resources Group in the first quarter worth about $82,000. Hedge funds and other institutional investors own 71.44% of the company's stock.

Insiders Place Their Bets

In other MDU Resources Group news, CFO Jason L. Vollmer acquired 5,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was bought at an average cost of $16.07 per share, with a total value of $80,350.00. Following the completion of the purchase, the chief financial officer directly owned 344,548 shares in the company, valued at $5,536,886.36. The trade was a 1.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MDU. Jefferies Financial Group raised MDU Resources Group from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research report on Friday, September 19th. Wall Street Zen cut MDU Resources Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $18.67.

MDU Resources Group Stock Down 0.3%

NYSE MDU opened at $17.16 on Thursday. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $16.63 and a two-hundred day moving average of $16.73. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 2.72 and a beta of 0.70.

MDU Resources Group (NYSE:MDU - Get Free Report) last released 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). MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.The firm had revenue of $351.20 million for the quarter, compared to analysts' expectations of $315.67 million. During the same period in the prior year, the firm posted $0.32 earnings per share. MDU Resources Group's revenue for the quarter was up 1.9% on a year-over-year basis. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. On average, analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 11th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.56 annualized dividend and a yield of 3.3%. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's payout ratio is 52.83%.

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.

Want to see what other hedge funds are holding MDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MDU Resources Group, Inc. (NYSE:MDU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.