Harbor Capital Advisors Inc. Decreases Stock Position in Knife River Corporation $KNF

Harbor Capital Advisors Inc. decreased its position in Knife River Corporation (NYSE:KNF) by 89.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,402 shares of the company’s stock after selling 36,690 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Knife River were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KNF. Brady Martz Wealth Solutions LLC boosted its stake in shares of Knife River by 2.3% in the second quarter. Brady Martz Wealth Solutions LLC now owns 6,786 shares of the company’s stock valued at $554,000 after purchasing an additional 152 shares during the period. Unified Investment Management increased its stake in Knife River by 2.6% during the 2nd quarter. Unified Investment Management now owns 5,968 shares of the company’s stock worth $487,000 after buying an additional 153 shares during the period. Focus Partners Advisor Solutions LLC lifted its holdings in Knife River by 2.0% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company’s stock worth $722,000 after buying an additional 159 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Knife River by 1.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,292 shares of the company’s stock worth $1,085,000 after buying an additional 167 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Knife River by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,497 shares of the company’s stock valued at $367,000 after buying an additional 170 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KNF has been the topic of a number of analyst reports. Royal Bank Of Canada dropped their target price on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Oppenheimer reduced their price target on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. UBS Group upgraded Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Knife River from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Knife River Stock Performance

KNF stock opened at $72.64 on Tuesday. The stock’s 50 day simple moving average is $70.73 and its 200 day simple moving average is $76.49. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $108.83. The firm has a market cap of $4.12 billion, a P/E ratio of 27.83, a P/E/G ratio of 1.49 and a beta of 0.43. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.07. Knife River had a net margin of 4.87% and a return on equity of 9.97%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, equities research analysts predict that Knife River Corporation will post 4.11 EPS for the current year.

Knife River Company 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.