61,642 Shares in Knife River Co. (NYSE:KNF) Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of Knife River Co. (NYSE:KNF) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 61,642 shares of the company’s stock, valued at approximately $6,292,000.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after purchasing an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Knife River by 34.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company’s stock worth $5,220,000 after purchasing an additional 13,199 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Knife River by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after purchasing an additional 49,785 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Knife River in the fourth quarter worth about $2,703,000. Finally, Drive Wealth Management LLC purchased a new position in shares of Knife River in the fourth quarter worth about $2,062,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KNF shares. Stephens reiterated an “overweight” rating and issued a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company started coverage on shares of Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Knife River has an average rating of “Buy” and a consensus target price of $110.40.

Knife River Price Performance

KNF stock opened at $92.18 on Tuesday. The firm has a 50 day moving average of $91.37 and a 200-day moving average of $97.21. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The firm has a market capitalization of $5.22 billion, a P/E ratio of 26.04, 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 (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. As a group, sell-side analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

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.