Knife River Corporation $KNF Stake Decreased by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in Knife River Corporation (NYSE:KNF) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,754,378 shares of the company’s stock after selling 82,710 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Knife River worth $442,339,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its position in Knife River by 127.2% in the second quarter. Teacher Retirement System of Texas now owns 128,785 shares of the company’s stock worth $10,514,000 after acquiring an additional 72,108 shares in the last quarter. Register Financial Advisors LLC raised its holdings in shares of Knife River by 117.8% in the 3rd quarter. Register Financial Advisors LLC now owns 36,115 shares of the company’s stock worth $2,776,000 after purchasing an additional 19,536 shares in the last quarter. Franklin Resources Inc. lifted its stake in Knife River by 27.2% during the second quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock valued at $55,998,000 after purchasing an additional 146,782 shares during the last quarter. Rhumbline Advisers grew its position in Knife River by 2.8% in the second quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock worth $14,825,000 after buying an additional 4,889 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Knife River by 25.0% in the second quarter. Asset Management One Co. Ltd. now owns 68,624 shares of the company’s stock valued at $5,602,000 after buying an additional 13,703 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wells Fargo & Company cut Knife River from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $75.00 to $81.00 in a report on Wednesday, February 18th. Royal Bank Of Canada lifted their price target on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. B. Riley Financial started coverage on shares of Knife River in a research note on Thursday, January 15th. They set a “buy” rating and a $92.00 price objective for the company. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Knife River from a “sell” rating to a “hold” rating in a research report on Monday. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

Knife River Stock Down 0.2%

KNF stock opened at $88.73 on Thursday. The company has a 50 day moving average of $77.55 and a two-hundred day moving average of $75.59. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 2.05 and a beta of 0.47. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $103.18. 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 (NYSE:KNF) last issued its earnings results on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The firm had revenue of $755.06 million for the quarter, compared to the consensus estimate of $726.60 million. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, equities 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.