Capital World Investors Buys New Shares in Knife River Corporation $KNF

Capital World Investors bought a new stake in Knife River Corporation (NYSE:KNF) during the 4th quarter, HoldingsChannel reports. The firm bought 1,011,598 shares of the company’s stock, valued at approximately $71,166,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KNF. Hantz Financial Services Inc. lifted its holdings in Knife River by 141.8% in the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the period. GAMMA Investing LLC lifted its holdings in Knife River by 34.8% in the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after buying an additional 177 shares during the period. Larson Financial Group LLC lifted its holdings in Knife River by 198.5% in the fourth quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock valued at $57,000 after buying an additional 536 shares during the period. EverSource Wealth Advisors LLC increased its stake in Knife River by 58.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $66,000 after purchasing an additional 345 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Knife River by 1,365.6% in the second quarter. Smartleaf Asset Management LLC now owns 1,363 shares of the company’s stock valued at $113,000 after purchasing an additional 1,270 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KNF. Royal Bank Of Canada lifted their price target on shares of Knife River from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Wells Fargo & Company decreased their price target on shares of Knife River from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Knife River from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings raised shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Finally, Oppenheimer began coverage on shares of Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price target for the company. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.29.

Knife River Trading Up 5.6%

NYSE:KNF opened at $76.24 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31. The firm has a 50-day moving average of $81.43 and a 200-day moving average of $79.43. The company has a market cap of $4.33 billion, a PE ratio of 29.66, a PEG ratio of 1.29 and a beta of 0.40. Knife River Corporation has a one year low of $58.72 and a one year high of $95.29.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.02. The company had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.21) earnings per share. As a group, equities research analysts expect that Knife River Corporation will post 3.32 EPS for the current fiscal year.

Knife River Company Profile

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.