Gallo Partners LP Buys New Position in Knife River Co. (NYSE:KNF)

Gallo Partners LP acquired a new position in shares of Knife River Co. (NYSE:KNF) during the 4th quarter, Holdings Channel reports. The firm acquired 27,072 shares of the company’s stock, valued at approximately $2,752,000. Knife River accounts for about 2.0% of Gallo Partners LP’s investment portfolio, making the stock its 15th biggest position.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors increased its holdings in shares of Knife River by 45.2% in the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after acquiring an additional 603,170 shares during the last quarter. Alliancebernstein L.P. increased its stake in Knife River by 830.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock valued at $111,965,000 after purchasing an additional 983,223 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of Knife River by 4.3% during the fourth quarter. Hood River Capital Management LLC now owns 906,534 shares of the company’s stock worth $92,140,000 after purchasing an additional 37,431 shares during the period. American Century Companies Inc. lifted its position in shares of Knife River by 1,200.8% in the 4th 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 during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Knife River by 83.7% in the 4th quarter. Invesco Ltd. now owns 879,796 shares of the company’s stock valued at $89,422,000 after buying an additional 400,954 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Knife River Stock Up 0.2 %

KNF opened at $92.41 on Wednesday. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a market cap of $5.24 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.36 and a beta of 0.97. The stock’s 50 day moving average price is $91.19 and its 200 day moving average price is $97.18.

Knife River (NYSE:KNF) last posted its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. As a group, research analysts predict that Knife River Co. will post 4.11 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 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.