Royal Bank of Canada Sells 12,388 Shares of Knife River Corporation $KNF

Royal Bank of Canada trimmed its holdings in Knife River Corporation (NYSE:KNF) by 39.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,836 shares of the company’s stock after selling 12,388 shares during the quarter. Royal Bank of Canada’s holdings in Knife River were worth $1,539,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KNF. Capital World Investors bought a new position in shares of Knife River during the fourth quarter worth $71,166,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Knife River by 57.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock valued at $124,821,000 after acquiring an additional 648,979 shares during the last quarter. Norges Bank bought a new stake in Knife River in the 4th quarter valued at $32,753,000. Paradice Investment Management LLC purchased a new stake in Knife River in the 4th quarter worth $22,001,000. Finally, Voss Capital LP lifted its stake in Knife River by 61.4% in the 4th quarter. Voss Capital LP now owns 710,048 shares of the company’s stock worth $49,952,000 after purchasing an additional 270,048 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KNF has been the subject of a number of research analyst reports. Royal Bank Of Canada cut their price objective on Knife River from $107.00 to $103.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Stephens set a $80.00 price target on Knife River in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on Knife River from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Zacks Research downgraded Knife River from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Oppenheimer started coverage on Knife River in a research report on Thursday, May 28th. They set an “outperform” rating and a $95.00 target price for the company. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.71.

Knife River Stock Up 0.8%

Shares of NYSE:KNF opened at $65.96 on Thursday. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00. Knife River Corporation has a 12 month low of $58.72 and a 12 month high of $96.28. The company has a 50-day moving average price of $78.29 and a 200 day moving average price of $80.64. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.26 and a beta of 0.42.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%.The company had revenue of $938.57 million for the quarter, compared to the consensus estimate of $931.39 million. During the same period in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Knife River Corporation will post 3.08 earnings per share for the current year.

Knife River Profile

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.