Geode Capital Management LLC Has $135.46 Million Stock Position in Knife River Co. (NYSE:KNF)

Geode Capital Management LLC lessened its position in shares of Knife River Co. (NYSE:KNF) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,332,441 shares of the company’s stock after selling 4,832 shares during the quarter. Geode Capital Management LLC owned approximately 2.35% of Knife River worth $135,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its stake in Knife River by 0.8% during the fourth quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock worth $1,586,000 after buying an additional 124 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares in the last quarter. Private Advisor Group LLC increased its stake in Knife River by 1.1% in the fourth quarter. Private Advisor Group LLC now owns 15,696 shares of the company’s stock valued at $1,595,000 after acquiring an additional 170 shares during the period. Natixis Advisors LLC raised its position in Knife River by 1.6% in the fourth quarter. Natixis Advisors LLC now owns 13,244 shares of the company’s stock worth $1,346,000 after purchasing an additional 203 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Knife River by 6.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 3,670 shares of the company’s stock worth $373,000 after purchasing an additional 224 shares during the period. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Up 0.7 %

NYSE KNF opened at $84.46 on Tuesday. The stock’s 50 day simple moving average is $95.46 and its 200 day simple moving average is $97.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. Knife River Co. has a one year low of $66.13 and a one year high of $108.83. The firm has a market cap of $4.78 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97.

Knife River (NYSE:KNF) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. As a group, sell-side analysts forecast that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KNF shares. Oppenheimer increased their target price on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company started coverage on Knife River in a research note on Monday, March 10th. They set an “overweight” rating and a $102.00 price objective for the company. Finally, Stephens restated an “overweight” rating and issued a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $110.40.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.