Raymond James Financial Services Advisors Inc. Lowers Stake in Knife River Co. (NYSE:KNF)

Raymond James Financial Services Advisors Inc. lowered its position in shares of Knife River Co. (NYSE:KNF) by 26.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,180 shares of the company’s stock after selling 2,886 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Knife River were worth $541,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KNF. Financial Management Professionals Inc. bought a new stake in shares of Knife River during the fourth quarter valued at approximately $35,000. Lazard Asset Management LLC bought a new stake in shares of Knife River during the second quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Knife River during the third quarter valued at approximately $34,000. Fairfield Bush & CO. bought a new stake in shares of Knife River during the second quarter valued at approximately $51,000. Finally, Clear Street Markets LLC bought a new stake in shares of Knife River during the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KNF. Oppenheimer boosted their price target on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Bank of America began coverage on shares of Knife River in a research report on Friday, January 5th. They issued a “buy” rating and a $81.00 price target on the stock. Siebert Williams Shank boosted their price target on shares of Knife River from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. Wolfe Research began coverage on shares of Knife River in a research report on Friday, March 8th. They issued a “peer perform” rating on the stock. Finally, Loop Capital assumed coverage on shares of Knife River in a research report on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.20.

Knife River Trading Down 2.9 %

KNF stock opened at $75.81 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53. Knife River Co. has a twelve month low of $33.67 and a twelve month high of $83.78. The stock has a market capitalization of $4.29 billion and a price-to-earnings ratio of -0.15. The firm’s fifty day simple moving average is $75.79 and its two-hundred day simple moving average is $65.15.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The business had revenue of $646.90 million for the quarter, compared to analysts’ expectations of $566.47 million. Knife River had a net margin of 6.46% and a return on equity of 15.98%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts anticipate that Knife River Co. will post 3.5 earnings per share for the current year.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.