Thrivent Financial for Lutherans Acquires 14,253 Shares of Knife River Corporation $KNF

Thrivent Financial for Lutherans raised its holdings in Knife River Corporation (NYSE:KNF) by 21.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,315 shares of the company’s stock after acquiring an additional 14,253 shares during the quarter. Thrivent Financial for Lutherans owned about 0.14% of Knife River worth $6,250,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC raised its position in shares of Knife River by 8,522.7% during the 3rd quarter. AlphaQuest LLC now owns 7,588 shares of the company’s stock valued at $583,000 after acquiring an additional 7,500 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Knife River by 1.4% during the third quarter. Arizona State Retirement System now owns 16,764 shares of the company’s stock worth $1,289,000 after purchasing an additional 231 shares during the period. New York State Common Retirement Fund increased its holdings in Knife River by 17.1% in the third quarter. New York State Common Retirement Fund now owns 147,122 shares of the company’s stock valued at $11,309,000 after purchasing an additional 21,453 shares during the last quarter. Pecaut & CO. lifted its stake in Knife River by 0.8% in the third quarter. Pecaut & CO. now owns 53,290 shares of the company’s stock valued at $4,096,000 after buying an additional 425 shares during the period. Finally, Baillie Gifford & Co. acquired a new position in Knife River in the third quarter valued at about $169,020,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group upgraded Knife River to an “overweight” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. started coverage on shares of Knife River in a research note on Thursday, December 4th. They set a “neutral” rating and a $83.00 price objective on the stock. Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. B. Riley Financial initiated coverage on shares of Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Knife River from $81.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.71.

Knife River Price Performance

NYSE KNF opened at $80.00 on Friday. The business has a 50 day simple moving average of $74.96 and a 200 day simple moving average of $75.50. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $105.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.28 and a beta of 0.47.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. Knife River had a net margin of 4.87% and a return on equity of 9.97%. Analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.