Needham Investment Management LLC Has $11.72 Million Position in MDU Resources Group, Inc. (NYSE:MDU)

Needham Investment Management LLC boosted its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 98.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 427,500 shares of the utilities provider’s stock after acquiring an additional 212,500 shares during the period. Needham Investment Management LLC’s holdings in MDU Resources Group were worth $11,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of MDU Resources Group by 23.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after buying an additional 413 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of MDU Resources Group by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 34,869 shares of the utilities provider’s stock worth $875,000 after acquiring an additional 606 shares during the period. HighTower Advisors LLC grew its position in shares of MDU Resources Group by 2.0% in the third quarter. HighTower Advisors LLC now owns 32,739 shares of the utilities provider’s stock valued at $896,000 after purchasing an additional 641 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of MDU Resources Group by 158.9% in the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 734 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in MDU Resources Group by 3.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,264 shares of the utilities provider’s stock worth $609,000 after acquiring an additional 817 shares during the period. 71.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on MDU. StockNews.com began coverage on MDU Resources Group in a report on Tuesday, November 5th. They issued a “hold” rating for the company. Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th. Finally, Siebert Williams Shank raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Monday, November 4th.

MDU Resources Group Stock Down 0.6 %

Shares of MDU Resources Group stock traded down $0.12 during trading on Tuesday, reaching $20.01. 155,998 shares of the company traded hands, compared to its average volume of 1,614,786. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. 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 firm has a market capitalization of $4.08 billion, a PE ratio of 10.33, a P/E/G ratio of 2.59 and a beta of 0.79. The company has a 50 day moving average price of $23.99 and a 200-day moving average price of $24.89.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $969.17 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that MDU Resources Group, Inc. will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.60%. MDU Resources Group’s dividend payout ratio (DPR) is currently 26.67%.

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.