Teachers Retirement System of The State of Kentucky Buys 70,204 Shares of Knife River Corporation $KNF

Teachers Retirement System of The State of Kentucky boosted its stake in shares of Knife River Corporation (NYSE:KNF) by 436.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,294 shares of the company’s stock after acquiring an additional 70,204 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.15% of Knife River worth $6,632,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cornerstone Investment Partners LLC lifted its holdings in Knife River by 5.8% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 2,941 shares of the company’s stock valued at $226,000 after purchasing an additional 161 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Knife River by 3.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,497 shares of the company’s stock valued at $367,000 after acquiring an additional 170 shares during 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 valued at $57,000 after purchasing an additional 184 shares in the last quarter. Hantz Financial Services Inc. raised its position in Knife River by 141.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Finally, Allied Investment Advisors LLC raised its position in Knife River by 4.6% in the 3rd quarter. Allied Investment Advisors LLC now owns 4,722 shares of the company’s stock valued at $363,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KNF. JPMorgan Chase & Co. initiated coverage on Knife River in a report on Thursday, December 4th. They issued a “neutral” rating and a $83.00 price target for the company. DA Davidson boosted their target price on shares of Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. UBS Group raised Knife River to an “overweight” rating in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada boosted their target price on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

Knife River Trading Down 0.8%

Shares of NYSE KNF opened at $88.09 on Wednesday. Knife River Corporation has a twelve month low of $58.72 and a twelve month high of $103.18. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 2.04 and a beta of 0.27. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average is $78.77 and its 200-day moving average is $75.40.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, February 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $755.06 million during the quarter, compared to analysts’ expectations of $726.60 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. 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.