New York State Common Retirement Fund Raises Stock Position in Knife River Corporation $KNF

New York State Common Retirement Fund grew its stake in shares of Knife River Corporation (NYSE:KNF) by 17.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,122 shares of the company’s stock after acquiring an additional 21,453 shares during the period. New York State Common Retirement Fund’s holdings in Knife River were worth $11,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pecaut & CO. increased its holdings in Knife River by 0.8% during the third quarter. Pecaut & CO. now owns 53,290 shares of the company’s stock valued at $4,096,000 after buying an additional 425 shares during the period. Baillie Gifford & Co. bought a new stake in Knife River during the 3rd quarter valued at $169,020,000. Hunter Associates Investment Management LLC increased its holdings in shares of Knife River by 17.5% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 12,895 shares of the company’s stock valued at $991,000 after acquiring an additional 1,918 shares during the period. Teacher Retirement System of Texas raised its position in shares of Knife River by 5.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 136,105 shares of the company’s stock worth $10,462,000 after acquiring an additional 7,320 shares in the last quarter. Finally, Hudson Value Partners LLC lifted its stake in shares of Knife River by 1.9% during the 3rd quarter. Hudson Value Partners LLC now owns 53,927 shares of the company’s stock worth $4,145,000 after purchasing an additional 984 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KNF. UBS Group upgraded Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada lowered their price target on shares of Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. initiated coverage on shares of Knife River in a research note on Thursday, December 4th. They set a “neutral” rating and a $83.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company reduced their price target on Knife River from $81.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Knife River presently has an average rating of “Moderate Buy” and a consensus price target of $95.71.

Knife River Stock Up 5.4%

NYSE:KNF opened at $72.89 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73. Knife River Corporation has a twelve month low of $58.72 and a twelve month high of $105.99. The company has a market cap of $4.13 billion, a PE ratio of 27.93, a P/E/G ratio of 1.16 and a beta of 0.47. The company’s 50 day moving average is $74.75 and its two-hundred day moving average is $75.49.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.07. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. Analysts anticipate that Knife River Corporation will post 4.11 EPS for the current year.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.