MDU RES GROUP INC MDU
COM · Common Stock · CUSIP 552690109 · ISIN US5526901096
- SectorUtilities
- IndustryNatural Gas Distribution
- HeadquartersBismarck, ND
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.1m this quarter). Holder counts are more reliable. Shares outstanding: 204.3m as of 2025-02-13, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $18.03. Options: 4 managers hold calls ($2.0m notional), 3 hold puts ($167.6k).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 377 |
| Q4 2022 | 403 |
| Q1 2023 | 412 |
| Q2 2023 | 380 |
| Q3 2023 | 378 |
| Q4 2023 | 375 |
| Q1 2024 | 392 |
| Q2 2024 | 385 |
| Q3 2024 | 404 |
| Q4 2024 | 399 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 171 | 170 |
| Q2 2023 | 169 | 196 |
| Q3 2023 | 162 | 183 |
| Q4 2023 | 145 | 178 |
| Q1 2024 | 170 | 173 |
| Q2 2024 | 172 | 185 |
| Q3 2024 | 182 | 166 |
| Q4 2024 | 210 | 164 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $12.9m | $372.9k | 0.03 |
| Q2 2024 | $8.8m | $531.6k | 0.06 |
| Q3 2024 | $8.7m | $304.2k | 0.03 |
| Q4 2024 | $2.0m | $167.6k | 0.08 |
Biggest buyers
| BlackRock, Inc. | Added | +8.0m |
| FIRST TRUST ADVISORS LP | Added | +4.0m |
| VANGUARD GROUP INC | Added | +3.3m |
| HENNESSY ADVISORS INC | Added | +2.0m |
| Pertento Partners LLP | Added | +1.4m |
| MORGAN STANLEY | Added | +823.2k |
| UBS Group AG | Added | +658.0k |
| PANAGORA ASSET MANAGEMENT INC | New | +654.4k |
| GOLDMAN SACHS GROUP INC | Added | +602.5k |
| STATE STREET CORP | Added | +522.0k |
Biggest sellers
| FMR LLC | Reduced | -5.2m |
| Corvex Management LP | Reduced | -3.0m |
| JPMORGAN CHASE & CO | Reduced | -1.2m |
| SASCO CAPITAL INC / CT/ | Sold out | -1.2m |
| CITADEL ADVISORS LLC | Reduced | -861.6k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -822.2k |
| Waratah Capital Advisors Ltd. | Sold out | -818.3k |
| Invesco Ltd. | Reduced | -761.1k |
| AYAL Capital Advisors Ltd | Sold out | -664.6k |
| Granite Investment Partners, LLC | Sold out | -601.6k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $1.6m89.9k shares |
| GROUP ONE TRADING LLC | Reduced | $320.8k17.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $37.0k3.8k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $167.6k9.3k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
| SIMPLEX TRADING, LLC | Reduced | $01.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 13G · institution -0.4 pts · filed 2026-08-12 | 6.3% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.3% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution +0.1 pts · filed 2026-10-08 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q4 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 1 | $8.5k | 0 | — | — |
| Q2 2024 | 1 | $924.0k | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 26.6m $479.0m | Added +8.0m |
| VANGUARD GROUP INC 0.01% of their portfolio | 23.0m $414.4m | Added +3.3m |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 8.2m $147.5m | Added +467.4k |
| Corvex Management LP 4.66% of their portfolio | 7.1m $128.1m | Reduced -3.0m |
| FIRST TRUST ADVISORS LP 0.11% of their portfolio | 7.0m $126.1m | Added +4.0m |
| STATE STREET CORP 0.00% of their portfolio | 6.9m $124.6m | Added +522.0k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.35% of their portfolio | 5.7m $102.5m | Reduced -137.9k |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 4.3m $77.9m | Reduced -822.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.5m $63.3m | Reduced -205.7k |
| MORGAN STANLEY 0.00% of their portfolio | 3.5m $62.7m | Added +823.2k |
| MACQUARIE GROUP LTD 0.07% of their portfolio | 3.2m $56.9m | Added +245.5k |
| Pertento Partners LLP 5.54% of their portfolio | 3.0m $53.9m | Added +1.4m |
| Invesco Ltd. 0.01% of their portfolio | 2.4m $43.3m | Reduced -761.1k |
| NORGES BANK 0.01% of their portfolio | 2.3m $40.9m | Reduced -116.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.2m $39.3m | Added +96.9k |
| HENNESSY ADVISORS INC 1.16% of their portfolio | 2.2m $38.8m | Added +2.0m |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.36% of their portfolio | 2.1m $38.1m | Reduced -17.9k |
| Allspring Global Investments Holdings, LLC 0.06% of their portfolio | 2.1m $37.9m | Added +331.5k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.1m $38.0m | Added +324.8k |
| US BANCORP \DE\ 0.04% of their portfolio | 1.7m $31.2m | Added +57.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.6m $28.4m | Reduced -49.9k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.05% of their portfolio | 1.4m $25.2m | Added +76.3k |
| JUPITER ASSET MANAGEMENT LTD 0.23% of their portfolio | 1.3m $24.1m | Added +387.2k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 1.2m $22.1m | Added +4.8k |
| Hood River Capital Management LLC 0.29% of their portfolio | 1.1m $20.0m | Added +3.5k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 1.1m $19.7m | Reduced -462.3k |
| MANAGED ASSET PORTFOLIOS, LLC 2.85% of their portfolio | 1.1m $19.3m | Reduced -12.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 1.0m $18.7m | Reduced -82.9k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.12% of their portfolio | 988.2k $17.8m | Added +47.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 988.0k $17.8m | Added +515.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 958.3k $17.3m | Added +602.5k |
| UBS Group AG 0.00% of their portfolio | 789.9k $14.2m | Added +658.0k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 761.4k $13.7m | Added +221.3k |
| Ancora Advisors LLC 0.30% of their portfolio | 746.0k $13.4m | Reduced -54.4k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 719.8k $13.0m | Reduced -218.7k |
| Legal & General Group Plc 0.00% of their portfolio | 692.8k $12.5m | Added +265.0k |
| Brandywine Global Investment Management, LLC 0.09% of their portfolio | 692.0k $12.5m | Added +519.0k |
| LOOMIS SAYLES & CO L P 0.02% of their portfolio | 672.3k $12.1m | Added +143.4k |
| Nixon Capital, LLC 3.76% of their portfolio | 666.9k $12.1m | Added +57.9k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 661.9k $11.9m | Added +334.7k |
| PANAGORA ASSET MANAGEMENT INC 0.05% of their portfolio | 654.4k $11.8m | New |
| Bragg Financial Advisors, Inc 0.43% of their portfolio | 588.7k $10.6m | Added +33.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 535.9k $9.7m | Added +4.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio | 525.0k $9.5m | Added +325.0k |
| Public Sector Pension Investment Board 0.04% of their portfolio | 507.9k $9.2m | New |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 507.8k $9.2m | Added +290.8k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 507.6k $9.1m | Reduced -40.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 491.7k $8.9m | Reduced -1.2m |
| CITIGROUP INC 0.01% of their portfolio | 479.3k $8.6m | Added +330.3k |
| Baird Financial Group, Inc. 0.02% of their portfolio | 463.0k $8.3m | Added +18.8k |
| NEEDHAM INVESTMENT MANAGEMENT LLC 0.64% of their portfolio | 461.0k $8.3m | Added +33.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 459.9k $8.3m | Reduced -22.9k |
| Keeley-Teton Advisors, LLC 0.88% of their portfolio | 420.7k $7.6m | Added +287.3k |
| California Public Employees Retirement System 0.00% of their portfolio | 402.5k $7.3m | Added +31.4k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 398.5k $7.2m | Reduced -6.9k |
| JOHN G ULLMAN & ASSOCIATES INC 1.05% of their portfolio | 397.8k $7.2m | Reduced -5.0k |
| Swiss National Bank 0.00% of their portfolio | 381.0k $6.9m | Added +3.0k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 324.9k $5.9m | Reduced -420.5k |
| KESTREL INVESTMENT MANAGEMENT CORP 3.23% of their portfolio | 324.3k $5.8m | New |
| PLUSTICK MANAGEMENT LLC 3.63% of their portfolio | 320.0k $5.8m | Added +165.0k |
| Advisors Preferred, LLC 0.92% of their portfolio | 317.3k $5.7m | New |
| M&T Bank Corp 0.02% of their portfolio | 313.3k $5.6m | Added +50 |
| Advisors Asset Management, Inc. 0.09% of their portfolio | 278.3k $5.0m | Added +44.6k |
| STRS OHIO 0.02% of their portfolio | 273.7k $4.9m | Added +31.8k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 261.6k $4.7m | Added +34.9k |
| NATIXIS 0.03% of their portfolio | 260.1k $4.7m | Added +258.5k |
| Angeles Investment Advisors, LLC 0.22% of their portfolio | 258.3k $4.7m | Unchanged |
| Global IMC LLC 0.83% of their portfolio | 257.5k $4.6m | New |
| Trexquant Investment LP 0.05% of their portfolio | 243.8k $4.4m | Added +217.0k |
| ING GROEP NV 0.03% of their portfolio | 238.1k $4.3m | Reduced -18.9k |
| Beacon Pointe Advisors, LLC 0.05% of their portfolio | 233.6k $4.2m | Added +58.1k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 231.3k $4.2m | Added +155.1k |
| Treasurer of the State of North Carolina 0.02% of their portfolio | 220.1k $4.0m | Added +5.6k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 216.0k $3.9m | Reduced -794 |
| CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio | 214.4k $3.9m | Reduced -5.5k |
| Hudson Value Partners, LLC 1.43% of their portfolio | 212.9k $3.8m | Added +135 |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 200.1k $3.6m | Added +60.9k |
| Register Financial Advisors LLC 1.81% of their portfolio | 199.5k $3.6m | Added +41.4k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 191.2k $3.4m | Reduced -861.6k |
| Cubist Systematic Strategies, LLC 0.05% of their portfolio | 186.5k $3.4m | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 183.8k $3.3m | Added +137.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 182.0k $3.3m | Reduced -3.8k |
| EXCHANGE TRADED CONCEPTS, LLC 0.07% of their portfolio | 180.0k $3.2m | New |
| Hudson Bay Capital Management LP 0.02% of their portfolio | 180.0k $3.2m | New |
| BANK OF NOVA SCOTIA 0.01% of their portfolio | 166.7k $3.0m | Reduced -32.0k |
| GSA CAPITAL PARTNERS LLP 0.22% of their portfolio | 163.4k $2.9m | Added +89.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 160.4k $2.9m | Reduced -35.8k |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 157.6k $2.8m | Added +109.3k |
| Amundi 0.00% of their portfolio | 155.0k $2.8m | New |
| LPL Financial LLC 0.00% of their portfolio | 154.7k $2.8m | Added +16.5k |
| Informed Momentum Co LLC 0.39% of their portfolio | 154.3k $2.8m | New |
| Illinois Municipal Retirement Fund 0.04% of their portfolio | 151.7k $2.7m | Added +114.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 151.3k $2.7m | Reduced -415.4k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 148.9k $2.7m | Added +8.2k |
| ONTARIO TEACHERS PENSION PLAN BOARD 0.04% of their portfolio | 147.8k $2.7m | Added +133.1k |
| Centiva Capital, LP 0.10% of their portfolio | 143.9k $2.6m | New |
| FIRST MANHATTAN CO. LLC. 0.01% of their portfolio | 135.9k $2.5m | Reduced -13.4k |
| GABELLI FUNDS LLC 0.02% of their portfolio | 135.5k $2.4m | Reduced -500 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 129.2k $2.3m | Added +11.5k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 129.1k $2.3m | Added +43.8k |