Allspring Global Investments Holdings LLC Has $7.49 Million Stock Position in Knife River Co. (NYSE:KNF)

Allspring Global Investments Holdings LLC cut its holdings in shares of Knife River Co. (NYSE:KNF) by 67.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,202 shares of the company’s stock after selling 235,339 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.20% of Knife River worth $7,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in Knife River during the 2nd quarter worth approximately $28,000. DekaBank Deutsche Girozentrale purchased a new stake in Knife River in the 3rd quarter valued at $34,000. Financial Management Professionals Inc. bought a new position in Knife River during the 4th quarter valued at $35,000. Fairfield Bush & CO. purchased a new position in Knife River during the 2nd quarter worth $51,000. Finally, Planned Solutions Inc. bought a new stake in shares of Knife River in the 4th quarter worth $53,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

KNF has been the topic of a number of recent analyst reports. Wolfe Research began coverage on shares of Knife River in a research report on Friday, March 8th. They set a “peer perform” rating on the stock. Bank of America initiated coverage on Knife River in a research note on Friday, January 5th. They issued a “buy” rating and a $81.00 target price on the stock. Loop Capital started coverage on Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price target for the company. Siebert Williams Shank lifted their price target on Knife River from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, December 26th. Finally, Oppenheimer upped their price objective on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and an average target price of $76.20.

Knife River Trading Down 0.9 %

NYSE:KNF opened at $78.08 on Thursday. Knife River Co. has a 12 month low of $33.67 and a 12 month high of $83.78. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $75.64 and its 200 day moving average is $65.07. The stock has a market capitalization of $4.42 billion and a PE ratio of -0.15.

Knife River (NYSE:KNF) last released its earnings results on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The business had revenue of $646.90 million during the quarter, compared to the consensus estimate of $566.47 million. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Knife River Co. will post 3.5 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 six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.