Geode Capital Management LLC Sells 205,749 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Geode Capital Management LLC reduced its stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,513,794 shares of the utilities provider's stock after selling 205,749 shares during the quarter. Geode Capital Management LLC owned about 1.72% of MDU Resources Group worth $63,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDU. Vanguard Group Inc. grew its stake in MDU Resources Group by 16.6% in the 4th quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider's stock worth $414,414,000 after acquiring an additional 3,276,114 shares during the period. Pertento Partners LLP boosted its position in shares of MDU Resources Group by 90.3% in the fourth quarter. Pertento Partners LLP now owns 2,990,144 shares of the utilities provider's stock worth $53,882,000 after acquiring an additional 1,419,118 shares during the last quarter. Norges Bank purchased a new stake in shares of MDU Resources Group during the 4th quarter valued at $40,857,000. Charles Schwab Investment Management Inc. increased its stake in MDU Resources Group by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,179,357 shares of the utilities provider's stock worth $39,272,000 after acquiring an additional 96,889 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its position in MDU Resources Group by 1,098.5% during the 4th quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider's stock worth $38,833,000 after purchasing an additional 1,975,200 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com lowered MDU Resources Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.00.

MDU Resources Group Stock Performance

Shares of NYSE:MDU traded up $0.03 during trading on Friday, reaching $16.78. 967,855 shares of the company's stock traded hands, compared to its average volume of 2,506,368. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The company has a 50 day moving average of $16.70 and a 200-day moving average of $19.36. The stock has a market capitalization of $3.43 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68. MDU Resources Group, Inc. has a 12 month low of $13.03 and a 12 month high of $20.39.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating 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 analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 3.10%. MDU Resources Group's dividend payout ratio (DPR) is presently 37.68%.

Insider Activity at MDU Resources Group

In other news, Director Dennis W. Johnson acquired 30,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the acquisition, the director now directly owns 180,166 shares in the company, valued at $2,997,962.24. This represents a 19.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.94% of the company's stock.

About MDU Resources Group

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.