NewEdge Advisors LLC Increases Stock Holdings in Knife River Co. (NYSE:KNF)

NewEdge Advisors LLC lifted its stake in shares of Knife River Co. (NYSE:KNF) by 24.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,876 shares of the company’s stock after purchasing an additional 4,525 shares during the quarter. NewEdge Advisors LLC’s holdings in Knife River were worth $2,325,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KNF. Larson Financial Group LLC raised its position in Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after buying an additional 157 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Knife River by 72.8% in the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock valued at $55,000 after purchasing an additional 227 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Knife River during the 4th quarter worth approximately $109,000. Physician Wealth Advisors Inc. purchased a new position in Knife River in the fourth quarter worth $114,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Knife River by 40.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock valued at $169,000 after purchasing an additional 476 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KNF. Wells Fargo & Company began coverage on Knife River in a research note on Monday, March 10th. They set an “overweight” rating and a $102.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $110.40.

Knife River Price Performance

KNF stock opened at $84.53 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The stock’s 50 day moving average price is $92.51 and its 200 day moving average price is $97.12. The firm has a market cap of $4.79 billion, a P/E ratio of 23.88, a PEG ratio of 2.36 and a beta of 0.97. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $657.20 million during the quarter, compared to analysts’ expectations of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. On average, sell-side analysts expect that Knife River Co. will post 4.11 earnings per share 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.