Middle Coast Investing, an investment advisor firm, released its fourth-quarter investor letter. A copy of the letter can be downloaded here. It was a strong quarter for the strategy which outperformed the S&P 500 and the Russell 2000. However, in full year 2024, the strategy beat the Russell 2000, the most relevant benchmark, but trailed the S&P 500, the most important benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Middle Coast Investing highlighted stocks like MDU Resources Group, Inc. (NYSE:MDU), in the fourth quarter 2024 investor letter. MDU Resources Group, Inc. (NYSE:MDU) engages in the regulated energy delivery, and construction materials and services businesses that operates through Electric, Natural Gas Distribution, Pipeline, and Construction Services segments. The one-month return of MDU Resources Group, Inc. (NYSE:MDU) was -5.25%, and its shares gained 66.35% of their value over the last 52 weeks. On January 8, 2025, MDU Resources Group, Inc. (NYSE:MDU) stock closed at $18.05 per share with a market capitalization of $3.68 billion.
Middle Coast Investing stated the following regarding MDU Resources Group, Inc. (NYSE:MDU) in its Q4 2024 investor letter:
“Lastly among stocks, I bought shares in MDU Resources Group, Inc. (NYSE:MDU), a utility company in the Dakotas. I don’t like the utility sector. But MDU spun off Everus Construction Group (ECG), an electric grid construction company, which is a better business. We sold our shares in MDU immediately after the spinoff. We held our small position in ECG through the end of the quarter, though we sold it in the first full week January.”
Workers in hard hats installing a transformer in a power plant.
MDU Resources Group, Inc. (NYSE:MDU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held MDU Resources Group, Inc. (NYSE:MDU) at the end of the third quarter which was 30 in the previous quarter. While we acknowledge the potential of MDU Resources Group, Inc. (NYSE:MDU) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed MDU Resources Group, Inc. (NYSE:MDU) and shared the list of best conglomerate stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
