Capital Research Global Investors Decreases Stock Holdings in Knife River Corporation $KNF

Capital Research Global Investors lowered its stake in Knife River Corporation (NYSE:KNF) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,862,778 shares of the company’s stock after selling 39,966 shares during the quarter. Capital Research Global Investors’ holdings in Knife River were worth $143,192,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position in shares of Knife River by 284.9% in the first quarter. Jones Financial Companies Lllp now owns 6,390 shares of the company’s stock valued at $576,000 after purchasing an additional 4,730 shares during the period. Empowered Funds LLC acquired a new position in shares of Knife River during the 1st quarter worth about $424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Knife River by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,565 shares of the company’s stock worth $20,529,000 after purchasing an additional 32,762 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Knife River by 10.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 46,078 shares of the company’s stock valued at $3,762,000 after buying an additional 4,299 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Knife River by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 522,868 shares of the company’s stock valued at $42,687,000 after buying an additional 15,250 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KNF shares. Royal Bank Of Canada boosted their price objective on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. raised their target price on Knife River from $83.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Stephens increased their price objective on Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.43.

Knife River Stock Performance

Shares of Knife River stock opened at $79.89 on Thursday. The firm has a market cap of $4.53 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 1.82 and a beta of 0.27. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70. Knife River Corporation has a 52 week low of $58.72 and a 52 week high of $103.18. The business’s fifty day simple moving average is $79.94 and its 200-day simple moving average is $75.23.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The firm had revenue of $755.06 million for the quarter, compared to analyst estimates of $726.60 million. During the same period in the previous year, the firm earned $0.41 EPS. Knife River’s revenue was up 14.9% on a year-over-year basis. Equities analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current 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.