Register Financial Advisors LLC Raises Stake in Knife River Corporation $KNF

Register Financial Advisors LLC increased its holdings in shares of Knife River Corporation (NYSE:KNF) by 117.8% in the third quarter, Holdings Channel reports. The firm owned 36,115 shares of the company’s stock after acquiring an additional 19,536 shares during the period. Knife River accounts for 1.1% of Register Financial Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Register Financial Advisors LLC’s holdings in Knife River were worth $2,776,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KNF. Unified Investment Management grew its stake in shares of Knife River by 2.6% during the second quarter. Unified Investment Management now owns 5,968 shares of the company’s stock valued at $487,000 after acquiring an additional 153 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Knife River by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 13,292 shares of the company’s stock valued at $1,085,000 after purchasing an additional 167 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Knife River by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,497 shares of the company’s stock valued at $367,000 after purchasing an additional 170 shares in the last quarter. Huntington National Bank increased its holdings in Knife River by 35.5% during the 2nd quarter. Huntington National Bank now owns 703 shares of the company’s stock worth $57,000 after purchasing an additional 184 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Knife River by 6.6% in the 2nd quarter. Verdence Capital Advisors LLC now owns 3,649 shares of the company’s stock valued at $298,000 after purchasing an additional 226 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KNF has been the subject of a number of recent analyst reports. UBS Group raised shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. DA Davidson decreased their price objective on shares of Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. JPMorgan Chase & Co. assumed coverage on shares of Knife River in a research note on Thursday, December 4th. They issued a “neutral” rating and a $83.00 target price on the stock. Royal Bank Of Canada decreased their price target on Knife River from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.57.

Knife River Trading Down 7.5%

NYSE KNF opened at $77.06 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39. Knife River Corporation has a one year low of $58.72 and a one year high of $108.83. The company has a 50-day simple moving average of $74.42 and a 200-day simple moving average of $76.00. The firm has a market capitalization of $4.37 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.38 and a beta of 0.47.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.22 billion. On average, equities analysts forecast that Knife River Corporation will post 4.11 earnings per share 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.