Legal & General Group Plc Sells 1,944 Shares of Knife River Co. (NYSE:KNF)

Legal & General Group Plc cut its stake in Knife River Co. (NYSE:KNF) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,578 shares of the company’s stock after selling 1,944 shares during the quarter. Legal & General Group Plc owned approximately 0.16% of Knife River worth $9,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. lifted its holdings in Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after purchasing an additional 983,223 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Knife River by 1,200.8% during the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock worth $90,224,000 after buying an additional 819,439 shares in the last quarter. Invesco Ltd. boosted its position in shares of Knife River by 83.7% in the fourth quarter. Invesco Ltd. now owns 879,796 shares of the company’s stock valued at $89,422,000 after acquiring an additional 400,954 shares during the period. Congress Asset Management Co. grew its stake in shares of Knife River by 2.5% in the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock valued at $70,766,000 after acquiring an additional 16,698 shares in the last quarter. Finally, Norges Bank bought a new position in Knife River during the fourth quarter worth about $66,631,000. Institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stephens restated an “overweight” rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company began coverage on Knife River in a report on Monday, March 10th. They issued an “overweight” rating and a $102.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $110.40.

Knife River Price Performance

Shares of KNF stock opened at $91.67 on Friday. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $92.92 and a 200 day simple moving average of $97.00. The company has a market cap of $5.19 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.36 and a beta of 0.97.

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

Knife River Profile

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.