Capital Research Global Investors Has $117.12 Million Holdings in Knife River Corporation $KNF

Capital Research Global Investors cut its position in shares of Knife River Corporation (NYSE:KNF) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,664,817 shares of the company’s stock after selling 197,961 shares during the quarter. Capital Research Global Investors’ holdings in Knife River were worth $117,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its position in shares of Knife River by 141.8% in the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Knife River by 34.8% in the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after acquiring an additional 177 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Knife River by 198.5% in the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock valued at $57,000 after acquiring an additional 536 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Knife River by 58.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $66,000 after purchasing an additional 345 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Knife River by 1,365.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,363 shares of the company’s stock worth $113,000 after purchasing an additional 1,270 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Down 2.6%

KNF stock opened at $72.24 on Tuesday. The company has a 50 day moving average of $81.51 and a two-hundred day moving average of $79.38. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.33 and a beta of 0.41. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $95.29. The company has a quick ratio of 1.31, a current ratio of 2.67 and a debt-to-equity ratio of 0.91.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.02. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The business had revenue of $410.13 million for the quarter, compared to analysts’ expectations of $387.06 million. During the same period in the previous year, the company posted ($1.21) EPS. Knife River’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts anticipate that Knife River Corporation will post 3.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 15th. DA Davidson raised their target price on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Stephens lifted their price target on Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Royal Bank Of Canada upped their price target on Knife River from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.29.

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.