California Public Employees Retirement System Lowers Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

California Public Employees Retirement System reduced its stake in MDU Resources Group, Inc. (NYSE:MDUGet Rating) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,665 shares of the utilities provider’s stock after selling 52,165 shares during the quarter. California Public Employees Retirement System owned 0.17% of MDU Resources Group worth $9,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Total Clarity Wealth Management Inc. purchased a new stake in shares of MDU Resources Group in the second quarter valued at approximately $27,000. Venture Visionary Partners LLC purchased a new stake in shares of MDU Resources Group in the second quarter valued at approximately $53,000. Herold Advisors Inc. purchased a new stake in shares of MDU Resources Group in the first quarter valued at approximately $53,000. CENTRAL TRUST Co boosted its stake in shares of MDU Resources Group by 42.9% in the first quarter. CENTRAL TRUST Co now owns 2,141 shares of the utilities provider’s stock valued at $57,000 after buying an additional 643 shares in the last quarter. Finally, Heritage Financial Services LLC purchased a new stake in shares of MDU Resources Group in the second quarter valued at approximately $66,000. 71.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MDU shares. StockNews.com started coverage on MDU Resources Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Citigroup lifted their price objective on MDU Resources Group to $31.00 in a report on Monday, August 15th. Finally, Bank of America cut MDU Resources Group from a “neutral” rating to an “underperform” rating in a report on Monday, October 24th.

MDU Resources Group Stock Performance

Shares of MDU stock opened at $31.07 on Wednesday. The stock has a fifty day moving average price of $28.78 and a 200 day moving average price of $28.34. The stock has a market cap of $6.32 billion, a PE ratio of 18.72, a P/E/G ratio of 2.98 and a beta of 0.72. MDU Resources Group, Inc. has a 1 year low of $24.92 and a 1 year high of $32.19. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.11 and a current ratio of 1.38.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 8th will be issued a dividend of $0.2225 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 2.86%. MDU Resources Group’s payout ratio is currently 52.41%.

MDU Resources Group Company Profile

(Get Rating)

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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