MDU MDU Resources Group, Inc. Common Stock (Holding Company)
$20.52
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$16–$23
66% of range
Analyst Rating
STRONG BUY
13 analysts
Price Target
$24
+15% upside
P/E (TTM)
21.0
ROE
6.9%
Net Profit Margin
10.2%
MDU Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$20.52
Market Cap
—
P/E (TTM)
21.0
EPS (TTM)
$0.93
Revenue (TTM)
$1.88B
Div Yield
—
ROE
6.9%
Debt/Equity
1.0
52W Range
$16 – $23
MDU Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.88B
2023-12-31
→
2025-12-31
EPS
$0.93
2023-12-31
→
2025-12-31
Free Cash Flow
$-297M
2023-12-31
→
2025-12-31
Margins
10.2%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MDU
Peer Median
P/E (TTM)
21.0
17.0
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MDU
Peer Median
Operating Margin
15.5%
—
Net Profit Margin
10.2%
15.1%
ROA
2.6%
4.0%
ROE
6.9%
10.0%
ROIC
4.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MDU
Peer Median
Debt / Equity
1.0
—
Current Ratio
0.8
0.8
Quick Ratio
0.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MDU
Peer Median
Revenue YoY
6.7%
—
Revenue CAGR 3Y
2.4%
—
Revenue CAGR 5Y
-19.5%
—
EPS YoY
-32.1%
—
Net Income YoY
-32.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MDU
Peer Median
Payout Ratio
56.9%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
56.9%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 11, 2026 | $0.1400 |
| March 12, 2026 | $0.1400 |
| Dec. 11, 2025 | $0.1400 |
| Sept. 11, 2025 | $0.1400 |
| June 12, 2025 | $0.1300 |
| March 13, 2025 | $0.1300 |
| Dec. 12, 2024 | $0.1300 |
| Sept. 12, 2024 | $0.0720 |
| June 13, 2024 | $0.0693 |
| March 13, 2024 | $0.0693 |
| Dec. 13, 2023 | $0.0693 |
| Sept. 13, 2023 | $0.0693 |
| June 12, 2023 | $0.1235 |
| March 8, 2023 | $0.0848 |
| Dec. 7, 2022 | $0.0848 |
| Sept. 7, 2022 | $0.0829 |
| June 8, 2022 | $0.0829 |
| March 9, 2022 | $0.0829 |
| Dec. 8, 2021 | $0.0829 |
| Sept. 8, 2021 | $0.0810 |
MDU Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 5 38.5%
- Buy 3 23.1%
- Hold 5 38.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
8 analysts · 2026-08-18
Median
$23.00
Mean
$23.62
← Below all targets
$20.52
Low
$21.00
High
$27.00
Median target
$23.00
+12.1%
Mean target
$23.62
+15.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.10 | $0.09 | 0.01% |
| March 31, 2026 | $0.39 | $0.42 | -0.03% |
| Dec. 31, 2025 | $0.37 | $0.36 | 0.01% |
| Sept. 30, 2025 | $0.09 | $0.11 | -0.02% |
| June 30, 2025 | $0.07 | $0.12 | -0.05% |
| March 31, 2025 | $0.40 | $0.37 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MDU | — | 21.0 | 6.7% | 10.2% | 6.9% | — |
| NFG | $8.35B | 16.3 | 17.1% | 22.8% | 17.4% | — |
| SWX | $5.78B | 13.2 | 9.6% | — | 11.2% | — |
| NJR | $4.84B | 14.5 | 9.9% | 24.8% | 13.8% | — |
| OGS | $4.84B | 17.7 | — | — | 8.0% | — |
| SR | — | — | — | — | — | — |
| CPK | — | 20.9 | 18.1% | 15.1% | 9.1% | — |
| NWN | $1.94B | 16.9 | 11.8% | 8.8% | 7.9% | — |
| SPH | — | 11.5 | 7.9% | 7.4% | — | — |
| SGU | — | — | 1.0% | 4.1% | — | 31.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $1.88B | $1.76B | $1.80B | $1.75B | $3.45B | |
| SG&A Expense | $433M | $414M | $407M | $380M | $2.21B | |
| Operating Expenses | $1.58B | $1.49B | $1.58B | $1.55B | $3.12B | |
| Operating Income | $290M | $266M | $225M | $201M | $331M | |
| Interest Expense | · | · | $114M | $81M | $71M | |
| Other Non-op | $28M | $41M | $33M | $3M | $26M | |
| Pretax Income | $211M | $199M | $340M | $123M | $286M | |
| Income Tax | $20M | $18M | $10M | $6M | $44M | |
| Net Income | $190M | $281M | $415M | $367M | $378M | |
| EPS (Basic) | $0.93 | $1.38 | $2.04 | $1.81 | $1.87 | |
| EPS (Diluted) | $0.93 | $1.37 | $2.03 | $1.81 | $1.87 | |
| Shares (Basic) | 204,291,000 | 203,867,000 | 203,640,000 | 203,358,000 | 202,076,000 | |
| Shares (Diluted) | 205,300,000 | 204,653,000 | 203,938,000 | 203,462,000 | 202,383,000 | |
| EBITDA | $497M | $466M | $640M | $902M | $833M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $28M | $67M | $60M | $70M | $54M | |
| Short-term Investments | · | · | $0 | $0 | · | |
| Receivables | $259M | $274M | $250M | $1.06B | $947M | |
| Inventory | $39M | $45M | $45M | $64M | $336M | |
| Other Current Assets | $41M | $41M | $66M | $55M | $96M | |
| Current Assets | $572M | $666M | $1.36B | $2.01B | $1.55B | |
| PP&E (Net) | $5.96B | $5.34B | $5.00B | $4.78B | $4.51B | |
| PP&E (Gross) | $8.26B | $7.55B | $7.08B | $6.63B | $8.97B | |
| Accum. Depreciation | $2.30B | $2.21B | $2.08B | $1.96B | $2.12B | |
| Goodwill | $346M | $346M | $346M | $489M | $765M | |
| Intangibles | · | · | $2M | $4M | $23M | |
| Other Non-current Assets | $213M | $179M | $211M | $162M | $158M | |
| Total Assets | $7.62B | $7.04B | $7.83B | $9.66B | $8.91B | |
| Accounts Payable | $149M | $150M | $160M | $526M | $479M | |
| Short-term Debt | · | $0 | $95M | $38M | $0 | |
| Current Liabilities | $685M | $679M | $1.08B | $1.48B | $1.09B | |
| Capital Leases | · | · | $52M | $53M | $89M | |
| Deferred Tax | $437M | $441M | $452M | $455M | $592M | |
| Other Non-current Liabilities | $182M | $173M | $210M | $181M | $273M | |
| Long-term Debt | $2.68B | $2.29B | $2.17B | $2.37B | $2.74B | |
| Total Debt | $2.68B | $2.29B | $2.39B | $3.09B | $2.74B | |
| Common Stock | · | · | · | $204M | $204M | |
| Retained Earnings | $1.11B | $1.03B | $1.25B | $1.95B | $1.76B | |
| Treasury Stock | · | · | $0 | $4M | $4M | |
| AOCI | $-17M | $-17M | $-18M | $-31M | $-41M | |
| Stockholders' Equity | $2.77B | $2.69B | $2.91B | $3.59B | $3.38B | |
| Liabilities + Equity | $7.62B | $7.04B | $7.83B | $9.66B | $8.91B |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| D&A | $207M | $200M | $190M | $189M | $198M | |
| Stock-based Comp | $7M | $8M | $6M | $8M | $13M | |
| Deferred Tax | $-9M | $-16M | $-1M | $20M | $27M | |
| Amort. of Intangibles | · | · | $2M | $2M | $2M | |
| Other Non-cash | $79M | $29M | $-298M | $-219M | $-257M | |
| Operating Cash Flow | $473M | $502M | $333M | $510M | $496M | |
| CapEx | $770M | $523M | $484M | $443M | $485M | |
| Investing Cash Flow | $-781M | $-553M | $-541M | $-639M | $-886M | |
| Debt Issued | $565M | $309M | $595M | $215M | $272M | |
| Net Debt Issued | $386M | $126M | $-66M | $100M | $529M | |
| Stock Issued | $-79.0K | $-50.0K | $0 | $-150.0K | $89M | |
| Stock Repurchased | $0 | $0 | $5M | $7M | $7M | |
| Net Stock Activity | $-79.0K | $-50.0K | $-5M | $-8M | $82M | |
| Dividends Paid | $108M | $103M | $161M | $177M | $171M | |
| Financing Cash Flow | $269M | $40M | $205M | $155M | $385M | |
| Taxes Paid | $31M | $44M | $12M | $-28M | $36M | |
| Free Cash Flow | $-297M | $-21M | $-187M | $-147M | $-164M | |
| Levered FCF | · | · | $-289M | $-241M | $-240M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Operating Margin | 15.5% | 15.1% | 9.2% | 8.2% | 9.4% | |
| Net Margin | 10.2% | 16.0% | 8.9% | 5.3% | 6.7% | |
| Pretax Margin | 11.2% | 11.3% | 11.6% | 6.6% | 8.2% | |
| EBITDA Margin | 26.5% | 26.5% | 13.7% | 12.9% | 14.7% | |
| ROA | 2.6% | 3.7% | 5.3% | 3.8% | 4.3% | |
| ROE | 6.9% | 9.8% | 14.6% | 10.4% | 11.3% | |
| ROIC | 4.8% | 4.9% | 7.1% | 6.8% | 7.1% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 1.0 | 1.3 | 1.4 | 1.4 | |
| Quick Ratio | 0.4 | 0.5 | 0.9 | 0.9 | 0.9 | |
| Debt / Equity | 1.0 | 0.9 | 0.8 | 0.9 | 0.8 | |
| LT Debt / Equity | 0.9 | 0.8 | 0.8 | 0.8 | 0.8 | |
| Interest Coverage | · | · | 3.7 | 4.8 | 5.7 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | 0.6 | 0.7 | 0.7 | |
| Receivables Turnover | 7.0 | 8.7 | 5.1 | 6.5 | 5.9 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue YoY | 6.7% | -2.5% | 3.2% | -49.4% | -37.6% | |
| Revenue CAGR 3Y | 2.4% | -20.2% | -31.2% | · | · | |
| Revenue CAGR 5Y | -19.5% | · | · | · | · | |
| EPS YoY | -32.1% | -32.5% | 12.2% | -3.2% | -4.1% | |
| EPS CAGR 3Y | -19.9% | -9.8% | 1.4% | · | · | |
| EPS CAGR 5Y | -13.8% | · | · | · | · | |
| Net Income YoY | -32.3% | -32.2% | 12.8% | -2.8% | -3.1% | |
| Net Income CAGR 3Y | -19.7% | -9.4% | 2.1% | · | · | |
| Net Income CAGR 5Y | -13.4% | · | · | · | · | |
| Dividend CAGR 5Y | -8.2% | · | · | · | · |
Valuation (TTM) 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue TTM | $1.88B | $1.76B | $1.80B | $1.75B | $3.45B | |
| Net Income TTM | $190M | $281M | $415M | $367M | $378M | |
| P/E | 21.0 | 13.2 | 5.4 | 6.4 | 6.3 | |
| Earnings Yield | 4.8% | 7.6% | 18.5% | 15.7% | 16.0% | |
| Payout Ratio | 56.9% | 36.6% | 38.9% | 48.1% | 45.3% | |
| Annual Payout | $108M | $103M | $161M | $177M | $171M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $375M | $606M | $534M | $315M | $351M | $675M | $536M | $290M | $344M | $588M | $-1.72B | $1.00B | $1.09B | $1.43B | $-1.68B | $1.00B | |
| SG&A Expense | $114M | $115M | $107M | $102M | $113M | $111M | $106M | $101M | $100M | $108M | $-1.90B | $739M | $770M | $797M | $-2.00B | $767M | |
| Operating Expenses | $327M | $490M | $427M | $275M | $321M | $562M | $441M | $255M | $305M | $492M | $-1.66B | $916M | $1.01B | $1.31B | $-1.69B | $941M | |
| Operating Income | $48M | $116M | $107M | $40M | $30M | $113M | $95M | $35M | $40M | $97M | $-60M | $85M | $82M | $119M | $10M | $61M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $29M | · | $32M | $26M | $24M | · | $20M | |
| Other Non-op | $6M | $3M | $6M | $7M | $10M | $5M | $10M | $9M | $10M | $12M | $4M | $9M | $10M | $10M | $2M | $6M | |
| Pretax Income | $23M | $86M | $84M | $21M | $15M | $91M | $77M | $16M | $23M | $82M | $-62M | $92M | $206M | $105M | $-4M | $47M | |
| Income Tax | $3M | $5M | $8M | $2M | $655.0K | $9M | $6M | $876.0K | $3M | $7M | $-82M | $13M | $58M | $21M | $-11M | $4M | |
| Net Income | $21M | $81M | $76M | $18M | $14M | $82M | $55M | $65M | $60M | $101M | $171M | $75M | $131M | $38M | $117M | $148M | |
| EPS (Basic) | $0.10 | $0.39 | $0.37 | $0.09 | $0.07 | $0.40 | $0.26 | $0.32 | $0.30 | $0.50 | $0.84 | $0.37 | $0.64 | $0.19 | $0.57 | $0.73 | |
| EPS (Diluted) | $0.10 | $0.39 | $0.37 | $0.09 | $0.07 | $0.40 | $0.26 | $0.32 | $0.30 | $0.49 | $0.83 | $0.37 | $0.64 | $0.19 | $0.57 | $0.73 | |
| Shares (Basic) | 209,630,000 | 205,438,000 | -408,513,000 | 204,331,000 | 204,331,000 | 204,142,000 | -407,688,000 | 203,888,000 | 203,888,000 | 203,779,000 | -407,257,000 | 203,638,000 | 203,635,000 | 203,624,000 | -406,695,000 | 203,351,000 | |
| Shares (Diluted) | 211,663,000 | 206,994,000 | -410,155,000 | 205,285,000 | 205,211,000 | 204,959,000 | -408,794,000 | 204,678,000 | 204,582,000 | 204,187,000 | -407,735,000 | 203,886,000 | 203,877,000 | 203,910,000 | -406,974,000 | 203,644,000 | |
| EBITDA | $103M | $170M | · | $92M | $82M | $164M | · | $147M | $146M | $192M | · | $138M | $136M | $156M | · | $292M |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $46M | $53M | $28M | $76M | $59M | $60M | $67M | $104M | $94M | $89M | · | $32M | $51M | $93M | · | $75M | |
| Short-term Investments | · | · | · | · | · | · | · | $0 | $0 | · | · | $276M | $246M | · | · | · | |
| Receivables | $152M | $223M | $259M | $132M | $157M | $269M | $274M | $934M | $927M | $932M | · | $893M | $934M | $1.29B | · | $1.30B | |
| Inventory | $19M | $19M | $39M | $44M | $20M | $18M | $45M | $92M | $70M | $57M | · | $80M | $60M | $426M | · | $399M | |
| Other Current Assets | $62M | $48M | $41M | $70M | $65M | $51M | $41M | $96M | $88M | $82M | · | $64M | $61M | $81M | · | $105M | |
| Current Assets | $496M | $560M | $572M | $501M | $442M | $542M | $666M | $1.47B | $1.40B | $1.32B | · | $1.52B | $1.54B | $2.11B | · | $2.02B | |
| PP&E (Net) | $6.06B | $6.00B | $5.96B | $5.59B | $5.43B | $5.38B | $5.34B | $5.38B | $5.26B | $5.18B | · | $5.02B | $4.92B | $6.15B | · | $5.99B | |
| PP&E (Gross) | $8.41B | $8.33B | $8.26B | $7.86B | $7.71B | $7.62B | $7.55B | $7.70B | $7.56B | $7.44B | $7.08B | $7.21B | $7.08B | $9.48B | $6.63B | $9.26B | |
| Accum. Depreciation | $2.35B | $2.33B | $2.30B | $2.27B | $2.28B | $2.24B | $2.21B | $2.32B | $2.30B | $2.26B | $2.08B | $2.19B | $2.16B | $3.32B | $1.96B | $3.26B | |
| Goodwill | $346M | $346M | $346M | $346M | $346M | $346M | $346M | $489M | $489M | $489M | · | $489M | $489M | $764M | · | $763M | |
| Intangibles | · | · | · | · | · | · | · | $466.0K | $960.0K | $1M | · | $3M | $3M | $16M | · | $19M | |
| Other Non-current Assets | $232M | $221M | $213M | $323M | $299M | $266M | $179M | $270M | $251M | $241M | · | $198M | $166M | $161M | · | $185M | |
| Total Assets | $7.71B | $7.68B | $7.62B | $7.19B | $6.95B | $6.96B | $7.04B | $8.17B | $7.96B | $7.84B | $7.83B | $7.87B | $7.68B | $9.84B | $9.66B | $9.61B | |
| Accounts Payable | $111M | $124M | $149M | $122M | $107M | $109M | $150M | $489M | $443M | $420M | · | $414M | $399M | $547M | · | $631M | |
| Short-term Debt | · | · | · | · | · | · | · | $0 | $0 | $0 | · | $306M | $345M | $502M | · | $100M | |
| Current Liabilities | $500M | $718M | $685M | $667M | $595M | $635M | $679M | $1.28B | $1.15B | $923M | · | $1.17B | $1.13B | $1.64B | · | $1.47B | |
| Capital Leases | · | · | · | · | · | · | · | $63M | $59M | $53M | · | $53M | $52M | $84M | · | $86M | |
| Deferred Tax | $454M | $448M | $437M | $434M | $427M | $430M | $441M | $453M | $455M | $462M | · | $527M | $516M | $642M | · | $618M | |
| Other Non-current Liabilities | $186M | $185M | $182M | $280M | $264M | $247M | $173M | $222M | $217M | $183M | · | $199M | $197M | $272M | · | $263M | |
| Long-term Debt | $2.58B | $2.60B | $2.68B | $2.35B | $2.18B | $2.19B | $2.29B | $2.45B | $2.40B | $2.39B | · | $2.34B | $2.25B | $2.85B | · | $2.99B | |
| Total Debt | $2.58B | $2.60B | · | $2.35B | $2.18B | $2.19B | · | $2.45B | $2.40B | $2.39B | · | $2.65B | $2.59B | $3.35B | · | $3.09B | |
| Common Stock | · | · | · | · | · | · | · | · | · | · | · | $204M | $204M | $204M | · | $204M | |
| Retained Earnings | $1.15B | $1.16B | $1.11B | $1.06B | $1.07B | $1.08B | $1.03B | $1.40B | $1.36B | $1.33B | · | $1.11B | $1.06B | $1.94B | · | $1.88B | |
| Treasury Stock | · | · | · | · | · | · | · | · | · | $0 | · | $0 | $0 | $4M | · | $4M | |
| AOCI | $-16M | $-17M | $-17M | $-16M | $-16M | $-17M | $-17M | $-18M | $-18M | $-18M | · | $-18M | $-18M | $-30M | · | $-43M | |
| Stockholders' Equity | $2.93B | $2.90B | $2.77B | $2.72B | $2.73B | $2.74B | $2.69B | $3.06B | $3.02B | $2.98B | $2.91B | $2.76B | $2.71B | $3.58B | $3.59B | $3.49B | |
| Liabilities + Equity | $7.71B | $7.68B | $7.62B | $7.19B | $6.95B | $6.96B | $7.04B | $8.17B | $7.96B | $7.84B | · | $7.87B | $7.68B | $9.84B | · | $9.61B |
Cash Flow 18
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $55M | $54M | $52M | $52M | $52M | $51M | $51M | $50M | $50M | $50M | $32M | $53M | $53M | $52M | $2M | $52M | |
| Stock-based Comp | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $913.0K | $1M | $3M | $2M | $2M | $-1M | $3M | $2M | $311.0K | |
| Deferred Tax | $3M | $8M | $4M | $7M | $-5M | $-14M | $-9M | $2M | $-8M | $866.0K | $-65M | $8M | $47M | $10M | $6M | $12M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | · | $522.0K | $522.0K | $1M | · | $565.0K | |
| Other Non-cash | · | $4M | · | · | · | $96M | · | · | · | $4M | · | · | · | $-176M | · | · | |
| Operating Cash Flow | $116M | $149M | $81M | $58M | $117M | $217M | $61M | $140M | $136M | $165M | $158M | $102M | $117M | $-44M | $225M | $167M | |
| CapEx | $101M | $92M | $417M | $180M | $81M | $93M | $156M | $123M | $101M | $117M | $114M | $138M | $78M | $112M | $101M | $51M | |
| Investing Cash Flow | $-105M | $-91M | $-421M | $-185M | $-80M | $-95M | $-160M | $-156M | $-119M | $-117M | $-125M | $-139M | $-126M | $-151M | $-174M | $-174M | |
| Debt Issued | $-4M | $138M | $442M | $123M | $0 | $0 | $6M | $189M | $24M | $89M | $183M | $22M | $214M | $44M | $-5M | $-114M | |
| Net Debt Issued | · | $-80M | · | · | · | $-99M | · | · | · | $89M | · | · | · | $6M | · | · | |
| Stock Issued | $30M | $81M | $-32.0K | $-47.0K | $0 | $0 | $0 | $0 | $-15.0K | $-35.0K | $0 | $0 | $0 | $0 | $-1.0K | $0 | |
| Stock Repurchased | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5M | $0 | $0 | |
| Net Stock Activity | · | $81M | · | · | · | $0 | · | · | · | $-35.0K | · | · | · | $-5M | · | · | |
| Dividends Paid | $29M | $29M | $29M | $27M | $27M | $27M | $26M | $26M | $26M | $26M | $25M | $45M | $45M | $45M | $44M | $44M | |
| Financing Cash Flow | $-18M | $-33M | $293M | $144M | $-38M | $-130M | $63M | $26M | $-13M | $-36M | $12M | $9M | $-24M | $207M | $-46M | $16M | |
| Taxes Paid | $3M | $-2M | $3M | $21M | $6M | $172.0K | $29M | $-18M | $7M | $-257.0K | $-28M | $23M | $9M | $8M | $-22M | $-22M | |
| Free Cash Flow | · | $57M | · | · | · | $124M | · | · | · | $39M | · | · | · | $-198M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $15M | · | · | · | $-229M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.8% | 19.1% | · | 12.7% | 8.6% | 16.7% | · | 8.6% | 8.6% | 11.2% | · | 8.5% | 7.5% | 4.3% | · | 10.6% | |
| Net Margin | 5.7% | 13.3% | · | 5.8% | 3.9% | 12.2% | · | 6.2% | 5.8% | 8.3% | · | 7.5% | 12.0% | 2.2% | · | 7.5% | |
| Pretax Margin | 6.0% | 14.1% | · | 6.6% | 4.2% | 13.5% | · | 7.2% | 7.2% | 10.0% | · | 9.2% | 18.8% | 2.7% | · | 9.3% | |
| EBITDA Margin | 27.5% | 28.0% | · | 29.2% | 23.4% | 24.3% | · | 14.0% | 13.9% | 15.8% | · | 13.8% | 12.4% | 9.0% | · | 14.8% | |
| ROA | 0.29% | 1.1% | · | 0.24% | 0.18% | 1.1% | · | 0.81% | 0.77% | 1.1% | · | 0.86% | 1.5% | 0.41% | · | 1.6% | |
| ROE | 0.75% | 2.9% | · | 0.63% | 0.48% | 2.9% | · | 2.2% | 2.1% | 3.1% | · | 2.4% | 4.3% | 1.1% | · | 4.3% | |
| ROIC | 0.74% | 2.0% | · | 0.70% | 0.59% | 2.1% | · | 1.4% | 1.3% | 2.1% | · | 1.3% | 1.1% | 0.87% | · | 2.6% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 0.8 | · | 0.8 | 0.7 | 0.9 | · | 1.1 | 1.2 | 1.4 | · | 1.3 | 1.4 | 1.3 | · | 1.4 | |
| Quick Ratio | 0.4 | 0.4 | · | 0.3 | 0.4 | 0.5 | · | 0.8 | 0.9 | 1.1 | · | 1.0 | 1.1 | 0.8 | · | 0.9 | |
| Debt / Equity | 0.9 | 0.9 | · | 0.9 | 0.8 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 1.0 | 1.0 | 0.9 | · | 0.9 | |
| LT Debt / Equity | 0.9 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | 0.7 | 0.7 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.8 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 4.7 | · | 2.6 | 3.1 | 2.0 | · | 6.7 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.2 | |
| Receivables Turnover | 2.4 | 2.5 | · | 0.6 | 0.6 | 1.1 | · | 1.1 | 1.1 | 1.1 | · | 0.9 | 1.0 | 1.6 | · | 1.7 |
Valuation (TTM) 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.65B | $1.95B | · | $1.63B | $1.66B | $1.90B | · | $2.22B | $3.02B | $4.11B | · | $4.52B | $4.53B | $4.86B | · | $5.01B | |
| Net Income TTM | $134M | $195M | · | $179M | $221M | $308M | · | $301M | $367M | $345M | · | $392M | $388M | $289M | · | $390M | |
| P/E | 32.6 | 21.8 | · | 20.2 | 15.3 | 11.2 | · | 10.3 | 7.7 | 8.3 | · | 5.6 | 6.1 | 8.1 | · | 5.4 | |
| Earnings Yield | 3.1% | 4.6% | · | 4.9% | 6.5% | 8.9% | · | 9.8% | 12.9% | 12.1% | · | 17.8% | 16.5% | 12.3% | · | 18.5% | |
| Payout Ratio | · | 35.4% | · | · | · | 32.3% | · | · | · | 25.7% | · | · | · | 118.0% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Revenue | $1.88B | — | — | $1.76B | — |
| Operating Margin % | 15.5% | — | — | 15.1% | — |
| Net Income | $190M | — | — | $281M | — |
| Diluted EPS | $0.93 | — | — | $1.37 | — |
Balance Sheet
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.0 | — | — | 0.9 | — |
| Current Ratio | 0.8 | — | — | 1.0 | — |
| Quick Ratio | 0.4 | — | — | 0.5 | — |
Cash Flow
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-297M | — | — | $-21M | — |
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Institutional owners (13F) 463 filers · $2.8B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 73 (+17 vs prior Q) | 42 (+1 vs prior Q) | 148 (-10 vs prior Q) | 109 (+9 vs prior Q) | +27.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | $276,933,116 | 13,056,724 | 9.99% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $269,204,383 | 12,692,333 | 9.71% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $209,643,595 | 9,884,186 | 7.56% | Shares |
| EARNEST PARTNERS LLC | $206,306,616 | 9,726,856 | 7.44% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $199,725,280 | 9,416,562 | 7.20% | Shares |
| STATE STREET CORP | $157,443,621 | 7,376,161 | 5.68% | Shares |
| River Road Asset Management, LLC | $72,197,886 | 3,403,955 | 2.60% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $68,336,688 | 3,221,909 | 2.46% | Shares |
| HITE Hedge Asset Management LLC | $66,542,239 | 3,137,305 | 2.40% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $63,459,359 | 2,990,664 | 2.29% | Shares |
| NORGES BANK | $55,851,233 | 2,633,250 | 2.01% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $47,433,111 | 2,236,356 | 1.71% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $42,158,396 | 1,987,666 | 1.52% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $41,397,233 | 1,951,779 | 1.49% | Shares |
| US BANCORP \DE\ | $35,581,366 | 1,677,575 | 1.28% | Shares |
| CITADEL ADVISORS LLC | $34,467,501 | 1,625,059 | 1.24% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $32,580,203 | 1,489,040 | 1.18% | Shares |
| Bragg Financial Advisors, Inc | $30,776,919 | 1,451,057 | 1.11% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $29,797,399 | 1,404,875 | 1.07% | Shares |
| Perpetual Ltd | $29,045,865 | 1,369,442 | 1.05% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $28,174,134 | 1,328,342 | 1.02% | Shares |
| VANGUARD GROUP INC | $24,416,787 | 1,250,860 | 0.88% | Shares |
| NEUBERGER BERMAN GROUP LLC | $22,311,051 | 1,051,912 | 0.80% | Shares |
| MANAGED ASSET PORTFOLIOS, LLC | $22,060,701 | 1,040,108 | 0.80% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $21,331,152 | 1,005,712 | 0.77% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $20,301,152 | 957,150 | 0.73% | Shares |
| Quantinno Capital Management LP | $19,397,000 | 914,521 | 0.70% | Shares |
| BlackRock, Inc. | $19,372,493 | 913,366 | 0.70% | Shares |
| TWO SIGMA INVESTMENTS, LP | $19,057,355 | 898,508 | 0.69% | Shares |
| Beck Bode, LLC | $18,416,333 | 868,285 | 0.66% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $17,207,609 | 811,297 | 0.62% | Shares |
| Gotham Asset Management, LLC | $15,412,480 | 726,661 | 0.56% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $15,239,618 | 718,511 | 0.55% | Shares |
| Public Sector Pension Investment Board | $15,230,095 | 718,062 | 0.55% | Shares |
| MILLENNIUM MANAGEMENT LLC | $13,251,966 | 624,798 | 0.48% | Shares |
| FRANKLIN RESOURCES INC | $12,807,722 | 603,853 | 0.46% | Shares |
| Brandywine Global Investment Management, LLC | $11,646,667 | 596,653 | 0.42% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $11,505,335 | 542,449 | 0.41% | Shares |
| LOOMIS SAYLES & CO L P | $11,293,434 | 532,458 | 0.41% | Shares |
| NEEDHAM INVESTMENT MANAGEMENT LLC | $10,817,100 | 510,000 | 0.39% | Shares |
| D. E. Shaw & Co., Inc. | $9,560,492 | 450,754 | 0.34% | Shares |
| AMERICAN CENTURY COMPANIES INC | $9,507,807 | 448,270 | 0.34% | Shares |
| California Public Employees Retirement System | $9,312,038 | 439,040 | 0.34% | Shares |
| Legal & General Group Plc | $9,307,689 | 438,835 | 0.34% | Shares |
| GOLDMAN SACHS GROUP INC | $9,122,251 | 430,092 | 0.33% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $8,835,000 | 416,554 | 0.32% | Shares |
| RHUMBLINE ADVISERS | $8,483,196 | 399,964 | 0.31% | Shares |
| Swiss National Bank | $8,275,930 | 390,190 | 0.30% | Shares |
| Keeley-Teton Advisors, LLC | $8,242,763 | 487,449 | 0.30% | Shares |
| RAYMOND JAMES FINANCIAL INC | $8,097,106 | 381,759 | 0.29% | Shares |
| DEUTSCHE BANK AG\ | $7,948,299 | 374,743 | 0.29% | Shares |
| Bank of New York Mellon Corp | $7,886,154 | 371,813 | 0.28% | Shares |
| BANK OF AMERICA CORP /DE/ | $7,663,660 | 361,323 | 0.28% | Shares |
| JOHN G ULLMAN & ASSOCIATES INC | $7,611,166 | 358,848 | 0.27% | Shares |
| GABELLI FUNDS LLC | $7,386,552 | 348,258 | 0.27% | Shares |
| Hudson Value Partners, LLC | $7,266,765 | 350,713 | 0.26% | Shares |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $6,989,013 | 329,515 | 0.25% | Shares |
| AMERIPRISE FINANCIAL INC | $6,942,161 | 327,187 | 0.25% | Shares |
| Phocas Financial Corp. | $6,834,986 | 322,253 | 0.25% | Shares |
| Covalis Capital LLP | $6,790,933 | 320,176 | 0.24% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $6,555,841 | 309,092 | 0.24% | Shares |
| Verition Fund Management LLC | $6,363,000 | 300,000 | 0.23% | Shares |
| Man Group plc | $6,318,523 | 297,903 | 0.23% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $5,921,768 | 279,197 | 0.21% | Shares |
| FIFTH THIRD BANCORP | $5,645,798 | 266,185 | 0.20% | Shares |
| Angeles Investment Advisors, LLC | $5,205,231 | 245,414 | 0.19% | Shares |
| Advisors Asset Management, Inc. | $5,015,308 | 278,319 | 0.18% | Shares |
| Magellan Asset Management Ltd | $4,910,985 | 231,541 | 0.18% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,885,217 | 235,773 | 0.18% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $4,850,246 | 228,677 | 0.17% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $4,814,670 | 227,000 | 0.17% | Shares |
| Balyasny Asset Management L.P. | $4,751,252 | 224,010 | 0.17% | Shares |
| LPL Financial LLC | $4,603,252 | 217,032 | 0.17% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $4,235,192 | 199,679 | 0.15% | Shares |
| Squarepoint Ops LLC | $4,190,481 | 197,571 | 0.15% | Shares |
| Oak Thistle LLC | $4,038,363 | 190,399 | 0.15% | Shares |
| PRUDENTIAL FINANCIAL INC | $4,031,363 | 190,069 | 0.15% | Shares |
| SEI INVESTMENTS CO | $4,031,340 | 190,068 | 0.15% | Shares |
| Vennlight Capital Management, LP | $3,906,097 | 184,163 | 0.14% | Shares |
| UBS Group AG | $3,866,116 | 182,278 | 0.14% | Shares |
| Lighthouse Investment Partners, LLC | $3,833,283 | 180,730 | 0.14% | Shares |
| GAMCO INVESTORS, INC. ET AL | $3,825,139 | 180,346 | 0.14% | Shares |
| HENNESSY ADVISORS INC | $3,811,585 | 179,707 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,461,536 | 163,203 | 0.12% | Shares |
| Ilex Capital Partners (UK) LLP | $3,405,965 | 160,583 | 0.12% | Shares |
| Vanguard Investments Australia, Ltd. | $3,326,746 | 156,848 | 0.12% | Shares |
| Riverwater Partners LLC | $3,219,898 | 151,810 | 0.12% | Shares |
| Polymer Capital Management (US) LLC | $3,161,584 | 149,061 | 0.11% | Shares |
| Campbell & CO Investment Adviser LLC | $3,115,897 | 146,907 | 0.11% | Shares |
| BARCLAYS PLC | $3,107,519 | 146,512 | 0.11% | Shares |
| Bleakley Financial Group, LLC | $3,097,887 | 146,058 | 0.11% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $3,030,383 | 142,875 | 0.11% | Shares |
| Brevan Howard Capital Management LP | $2,825,893 | 133,234 | 0.10% | Shares |
| MACQUARIE GROUP LTD | $2,794,502 | 131,754 | 0.10% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $2,790,706 | 131,575 | 0.10% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $2,767,956 | 141,801 | 0.10% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $2,684,274 | 126,557 | 0.10% | Shares |
| FIRST MANHATTAN CO. LLC. | $2,597,398 | 121,658 | 0.09% | Shares |
| Baird Financial Group, Inc. | $2,521,869 | 118,900 | 0.09% | Shares |
| BOKF, NA | $2,425,364 | 114,350 | 0.09% | Shares |
Company insiders 73 insiders · 27 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Kenneth Frank Morehouse | President & CEO-Montana-Dakota | May 12, 2014 S | 4,459 | 0 | 0 | $0 |
| Steven L Bietz | Pres. & CEO - WBI Energy, Inc. | Feb. 19, 2014 S | 34,704 | 0 | 0 | $0 |
| James Kent Wells | President & CEO-Fidelity E&P | May 24, 2012 P | 27,743 | 0 | 0 | $0 |
| Terry D Hildestad | President and CEO | Nov. 29, 2010 S | 0 | 0 | 0 | $0 |
| John G Harp | Pres. & CEO-MDU Constr.Serv. | Feb. 11, 2010 F | 83,152 | 0 | 0 | $0 |
| Bruce T Imsdahl | President & CEO, Mont.-Dakota | Feb. 14, 2008 F | 26,575 | 0 | 0 | $0 |
| Paul Gatzemeier | President & CEO, Cent. Energy | Feb. 16, 2006 A | 7,987 | 0 | 0 | $0 |
| Martin A White | Chairman and CEO | Feb. 3, 2006 G | 5,033 | 0 | 0 | $0 |
| Ronald D Tipton | CEO - Montana-Dakota Utilities | Aug. 13, 2004 M | 54,707 | 0 | 0 | $0 |
| Doran N Schwartz | VP and CFO | Feb. 16, 2017 F | 43,600 | 0 | 0 | $0 |
| Vernon A Raile | EVP, Treas. & CFO | Feb. 11, 2010 A | 54,302 | 0 | 0 | $0 |
| Warren L Robinson | EVP & CFO | Nov. 21, 2005 S | 25,896 | 0 | 0 | $0 |
| Dennis L Haider | EVP-Business Development | Feb. 16, 2017 F | 25,717 | 0 | 0 | $0 |
| Cynthia J Norland | VP - Administration | Feb. 11, 2016 F | 15,721 | 0 | 0 | $0 |
| Paul K Sandness | General Counsel and Secretary | May 12, 2014 S | 10,391 | 0 | 0 | $0 |
| Nathan W Ring | VP, Controller & CAO | May 7, 2014 I | 2,432 | 0 | 0 | $0 |
| Douglass A Mahowald | Treasurer & Asst. Secretary | Feb. 21, 2014 S | 1,165 | 0 | 0 | $0 |
| William R Connors | VP - Renewable Resources | Feb. 21, 2014 S | 5,300 | 0 | 0 | $0 |
| Mark A Del Vecchio | VP - Human Resources | Feb. 13, 2014 F | 9,718 | 0 | 0 | $0 |
| John P Stumpf | VP - Strategic Planning | Feb. 13, 2014 F | 14,984 | 0 | 0 | $0 |
| Cindy C Redding | VP, Human Resources | Feb. 15, 2007 F | 6,812 | 0 | 0 | $0 |
| John K Castleberry | EVP - Administration | Feb. 15, 2007 F | 27,931 | 0 | 0 | $0 |
| Daryl A Splichal | Treasurer | Feb. 16, 2006 F | 3,590 | 0 | 0 | $0 |
| Robert E Wood | SVP-Gov.& PA | Feb. 16, 2006 F | 5,268 | 0 | 0 | $0 |
| Cathleen M Christopherson | Vice President - Corporate Com | May 31, 2005 M | 33,309 | 0 | 0 | $0 |
| Floyd E Wilson | VP, Strat.Plan.&Corp.Develop. | Feb. 17, 2005 F | 4,890 | 0 | 0 | $0 |
| Lester H Loble II | EVP, Gen. Counsel & Secretary | Aug. 28, 2003 M | 23,670 | 0 | 0 | $0 |
| Vernon A. Dosch | Director | June 30, 2026 A | 18,834 | 0 | 0 | $0 |
| Marian M Durkin | Director | June 30, 2026 A | 11,676 | 0 | 0 | $0 |
| Bart A Holaday | Director | March 30, 2018 A | 65,002 | 0 | 0 | $0 |
| Thomas C Knudson | Director | Nov. 20, 2013 A | 28,070 | 0 | 0 | $0 |
| Richard H Lewis | Director | March 29, 2013 A | 28,167 | 0 | 0 | $0 |
| Sister Thomas Welder | Director | May 18, 2009 G | 0 | 0 | 0 | $0 |
| John L Olson | Director | May 18, 2009 A | 104,736 | 0 | 0 | $0 |
| Robert L Nance | Director | June 30, 2006 A | 46,503 | 0 | 0 | $0 |
| Garret Senger | — | Feb. 18, 2026 F | 100,048 | 0 | 0 | $0 |
| Rob L. Johnson | — | Feb. 18, 2026 F | 82,665 | 0 | 0 | $0 |
| Stephanie A Barth | — | Feb. 18, 2026 F | 90,503 | 0 | 0 | $0 |
| Anne M Jones | — | Feb. 18, 2026 F | 118,017 | 0 | 0 | $0 |
| Jason L Vollmer | — | Feb. 18, 2026 F | 324,976 | 2 | 0 | $161,750 |
| Nicole A Kivisto | — | Feb. 18, 2026 F | 547,961 | 0 | 0 | $0 |
| Dyke A. Boese | — | Feb. 17, 2026 A | 7,084 | 0 | 0 | $0 |
| Anthony Donald Foti | — | Feb. 17, 2026 A | 16,634 | 0 | 0 | $0 |
| Charles M Kelley | — | Feb. 13, 2026 P | 8,031 | 1 | 0 | $104,200 |
| Patel Priti Rashmikant | — | Nov. 13, 2025 A | 4,849 | 0 | 0 | $0 |
| Tammy J Miller | — | Nov. 13, 2025 A | 6,031 | 0 | 0 | $0 |
| Douglas W. Jaeger | — | Nov. 13, 2025 A | 12,726 | 0 | 0 | $0 |
| Darrel T Anderson | — | Nov. 13, 2025 A | 17,594 | 0 | 0 | $0 |
| Dennis W Johnson | — | Nov. 13, 2025 A | 187,945 | 0 | 0 | $0 |
| Chenxi Wang | — | Nov. 15, 2024 A | 33,691 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| CORVEX MANAGEMENT LP, KEITH MEISTER ×7 filings | Nov. 1, 2024 | — | Initial filing | Board campaign | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 84 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PSCU · Invesco Exchange-Traded Fund Trust … | 4.28% | 36,658 SH | Aug. 8, 2026 | Daily |
| ADPV · Series Portfolios Trust | 3.74% | 284,410 NS | April 30, 2026 | N-PORT |
| FXU · First Trust Exchange-Traded AlphaDE… | 3.61% | 1,438,975 NS | April 30, 2026 | N-PORT |
| PUI · Invesco Exchange-Traded Fund Trust | 2.23% | 59,196 SH | Aug. 8, 2026 | Daily |
| EPSV · Harbor ETF Trust | 1.90% | 4,212 NS | April 30, 2026 | N-PORT |
| EPSB · Harbor ETF Trust | 1.77% | 3,664 NS | April 30, 2026 | N-PORT |
| SIXS · EXCHANGE TRADED CONCEPTS TRUST | 1.15% | 69,008 NS | May 31, 2026 | N-PORT |
| XSHD · Invesco Exchange-Traded Fund Trust … | 0.87% | 31,020 SH | Aug. 8, 2026 | Daily |
| XSMO · Invesco Exchange-Traded Fund Trust | 0.81% | 1,223,443 SH | Aug. 8, 2026 | Daily |
| XSLV · Invesco Exchange-Traded Fund Trust … | 0.81% | 97,640 SH | Aug. 8, 2026 | Daily |
| LSEQ · Harbor ETF Trust | 0.71% | 4,867 NS | April 30, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.63% | 15,251 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.48% | 5,429 NS | April 30, 2026 | N-PORT |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.47% | 443,496 SH | Aug. 8, 2026 | Daily |
| IJS · iShares Trust | 0.47% | 1,862,642 SH | Aug. 8, 2026 | Daily |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.43% | 38,371 NS | May 31, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.41% | 78,845 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.30% | 29,295 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.30% | 1,014,478 NS | April 30, 2026 | N-PORT |
| PAVE · Global X Funds | 0.28% | 1,794,958 NS | May 31, 2026 | N-PORT |
| FUTY · FIDELITY COVINGTON TRUST | 0.27% | 297,025 NS | April 30, 2026 | N-PORT |
| IDU · iShares Trust | 0.27% | 174,000 SH | Aug. 8, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.26% | 32,531 SH | Aug. 8, 2026 | Daily |
| VPU · VANGUARD WORLD FUND | 0.26% | 1,331,349 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.24% | 730,728 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.24% | 12,745,904 SH | Aug. 8, 2026 | Daily |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.22% | 43,927 NS | April 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.22% | 131,418 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.21% | 69,475 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.21% | 280,896 NS | May 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.19% | 6,980 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.19% | 2,445 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.19% | 267,596 SH | Aug. 8, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.19% | 77,885 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.17% | 9,555 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.16% | 955,891 NS | April 30, 2026 | N-PORT |
| HSMV · First Trust Exchange-Traded Fund III | 0.15% | 2,082 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.14% | 579,038 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.13% | 44,166 SH | Aug. 8, 2026 | Daily |
| IFRA · iShares Trust | 0.12% | 260,694 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.11% | 110,884 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.10% | 647,931 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.09% | 5,652 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.09% | 981,242 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.09% | 3,042,543 SH | Aug. 8, 2026 | Daily |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 79,299 NS | April 30, 2026 | N-PORT |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 83,958 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.06% | 8,988 SH | Aug. 8, 2026 | Daily |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.06% | 2,849 NS | May 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.06% | 102,455 SH | Aug. 8, 2026 | Daily |