The Vanguard Group, Inc. recently announced the acquisition of new stake in MDU Resources Group Inc. (NYSE:MDU). The institutional investor has increased its shareholding in the Industrials company by 1.57% to 21.74 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 10.69% valued currently at $692.38 million. In addition, BlackRock Fund Advisors raised its holdings by 0.61 million to 17.14 million shares. And Dimensional Fund Advisors LP has lifted its position by 2.94% or 0.15 million shares – to 5.26 million shares.
With over 1.89 million MDU Resources Group Inc. (MDU) shares trading Monday and a closing price of $29.48 on the day, the dollar volume was approximately $55.67 million. The shares have shown a negative half year performance of -3.63% and its price on 03/13/23 lost nearly -1.24%. Currently, there are 203.38M common shares owned by the public and among those 201.62M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for MDU have a consensus price objective of $34.33. The analysts have set the share’s price value over the next 12 months at a high of $39.00 and a low of $28.00. The average price target is 12.0% above its recent price level and a downside to the estimated low will see the stock lose -5.29% over that period. But an upside of 24.41% will see the stock hit the forecast high price target while median target price for the stock is $36.00.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 465,247 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 64,994 shares.
The top 3 mutual fund holders in MDU Resources Group Inc. are SPDR S&P Dividend ETF, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. SPDR S&P Dividend ETF owns 7.96 million shares of the company’s stock, all valued at over $253.49 million. The company sold 2153.0 shares recently to bring their total holdings to about 3.91% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 14376.0 shares to see its total holdings expand to 6.35 million shares valued at over $202.15 million and representing 3.12% of the shares outstanding. Vanguard Total Stock Market Index bought 56554.0 shares to bring its total holdings to over 6.26 million shares at a value of $199.29 million. Vanguard Total Stock Market Index now owns shares totaling to 3.08% of the shares outstanding.
Shares of MDU Resources Group Inc. (NYSE: MDU) opened at $29.38, down -$0.47 from a prior closing price of $29.85. However, the script later moved the day high at 29.78, down -1.24%. The company’s stock has a 5-day price change of -5.48% and -3.88% over the past three months. MDU shares are trading -2.83% year to date (YTD), with the 12-month market performance up to 14.66% higher. It has a 12-month low price of $24.92 and touched a high of $32.53 over the same period. MDU has an average intraday trading volume of 828.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.63%, -4.41%, and 0.41% respectively.
Institutional ownership of MDU Resources Group Inc. (NYSE: MDU) shares accounts for 74.20% of the company’s 203.38M shares outstanding. Mutual fund holders own 42.84%, while other institutional holders and individual stakeholders account for 5.97% and 30.24% respectively.
It has a market capitalization of $6.13B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 16.33, while the earnings-per-share (ttm) stands at $1.80. The company has a PEG of 2.72 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 0.86. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.99% over the week and 1.78% over the month.
Analysts forecast that MDU Resources Group Inc. (MDU) will achieve an EPS of $0.24 for the current quarter, $0.48 for the next quarter and $2.31 for 2024. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -3.30%, and 9.03% over the next financial year. EPS should shrink at an annualized rate of 6.00% over the next five years, compared to 7.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate MDU Resources Group Inc. (MDU) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MDU, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on October 24, 2022, with the firm’s price target at $30-$26. BofA Securities coverage for the MDU Resources Group Inc. (MDU) stock in a research note released on August 05, 2022 offered a Neutral rating with a price target of $30. BofA Securities was of a view on March 23, 2021 that the stock is Buy, while Williams Capital Group gave the stock Buy rating on September 16, 2019, issuing a price target of $31- $32. Williams Capital Group on their part issued Buy rating on February 08, 2018.
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