TD Asset Management Inc Has $2.17 Million Stake in Knife River Corporation $KNF

TD Asset Management Inc lowered its stake in Knife River Corporation (NYSE:KNF) by 23.6% during the third quarter, Holdings Channel.com reports. The fund owned 28,196 shares of the company’s stock after selling 8,706 shares during the period. TD Asset Management Inc’s holdings in Knife River were worth $2,167,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KNF. Baillie Gifford & Co. acquired a new stake in shares of Knife River in the 3rd quarter valued at approximately $169,020,000. Norges Bank acquired a new position in shares of Knife River during the 2nd quarter worth about $53,260,000. Ameriprise Financial Inc. raised its holdings in shares of Knife River by 30.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock valued at $64,311,000 after purchasing an additional 182,462 shares during the period. Raymond James Financial Inc. grew its holdings in Knife River by 71.0% during the second quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock worth $28,971,000 after purchasing an additional 147,387 shares during the period. Finally, Franklin Resources Inc. increased its position in Knife River by 27.2% during the second quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock worth $55,998,000 after buying an additional 146,782 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Trading Down 1.0%

KNF opened at $87.58 on Thursday. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 2.04 and a beta of 0.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.54 and a quick ratio of 1.39. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $103.18. The company’s 50 day moving average price is $79.05 and its two-hundred day moving average price is $75.49.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KNF. DA Davidson lifted their target price on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. B. Riley Financial began coverage on Knife River in a research report on Thursday, January 15th. They set a “buy” rating and a $92.00 price objective on the stock. Wells Fargo & Company cut shares of Knife River from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $75.00 to $81.00 in a research report on Wednesday, February 18th. Stephens raised their price target on shares of Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. began coverage on shares of Knife River in a report on Thursday, December 4th. They issued a “neutral” rating and a $83.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

Knife River 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.