Renaissance Technologies LLC Has $629,000 Stock Holdings in Knife River Corporation $KNF

Renaissance Technologies LLC trimmed its position in Knife River Corporation (NYSE:KNF) by 93.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,700 shares of the company’s stock after selling 108,400 shares during the period. Renaissance Technologies LLC’s holdings in Knife River were worth $629,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in KNF. McMillan Office Inc. bought a new position in Knife River in the fourth quarter worth approximately $36,000. Hantz Financial Services Inc. increased its holdings in shares of Knife River by 66.3% during the fourth quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock valued at $40,000 after acquiring an additional 226 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Knife River by 1,088.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock valued at $42,000 after acquiring an additional 544 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Knife River by 198.5% during the fourth quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock worth $57,000 after purchasing an additional 536 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Knife River by 58.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $66,000 after purchasing an additional 345 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Stock Down 0.2%

KNF stock opened at $66.29 on Monday. Knife River Corporation has a twelve month low of $58.72 and a twelve month high of $96.28. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average is $78.75 and its 200-day moving average is $80.70. The firm has a market capitalization of $3.76 billion, a PE ratio of 27.06, a P/E/G ratio of 1.28 and a beta of 0.42.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.36). The company had revenue of $938.57 million for the quarter, compared to analysts’ expectations of $931.39 million. Knife River had a net margin of 4.23% and a return on equity of 8.73%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. Sell-side analysts expect that Knife River Corporation will post 3.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Knife River from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Stephens set a $80.00 price objective on shares of Knife River in a report on Wednesday, August 5th. Oppenheimer initiated coverage on shares of Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective on the stock. Royal Bank Of Canada reduced their price objective on shares of Knife River from $107.00 to $103.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Finally, Wells Fargo & Company raised shares of Knife River from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $81.00 to $73.00 in a research report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.71.

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.