Truist Financial Corp Takes $218,000 Position in MDU Resources Group, Inc. (NYSE:MDU)

Truist Financial Corp bought a new position in shares of MDU Resources Group, Inc. (NYSE:MDU) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,673 shares of the utilities provider’s stock, valued at approximately $218,000.

Other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 413 shares during the period. NewEdge Advisors LLC boosted its position in MDU Resources Group by 2.7% in the 2nd quarter. NewEdge Advisors LLC now owns 67,900 shares of the utilities provider’s stock worth $1,704,000 after purchasing an additional 1,761 shares in the last quarter. Algert Global LLC acquired a new stake in shares of MDU Resources Group during the 2nd quarter worth approximately $1,281,000. AQR Capital Management LLC increased its holdings in shares of MDU Resources Group by 36.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock valued at $43,824,000 after purchasing an additional 467,465 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MDU Resources Group in the 2nd quarter valued at $163,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

MDU Resources Group Stock Performance

NYSE MDU opened at $30.28 on Friday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.66 and a beta of 0.77. The stock has a 50-day moving average of $26.39 and a 200 day moving average of $25.60. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a twelve month low of $18.04 and a twelve month high of $30.52.

MDU Resources Group (NYSE:MDU) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $0.29 EPS. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Sell-side analysts anticipate that MDU Resources Group, Inc. will post 1.58 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, September 12th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio is 22.22%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of MDU Resources Group in a research report on Sunday. They set a “hold” rating on the 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.