Knife River Corporation $KNF Shares Sold by Capital Research Global Investors

Capital Research Global Investors decreased its holdings in shares of Knife River Corporation (NYSE:KNF) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,664,817 shares of the company’s stock after selling 197,961 shares during the period. Capital Research Global Investors owned about 2.94% of Knife River worth $117,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hantz Financial Services Inc. boosted its holdings in shares of Knife River by 141.8% in the 3rd 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 raised its stake in Knife River by 34.8% during the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock worth $48,000 after acquiring 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 worth $57,000 after acquiring an additional 536 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Knife River by 58.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $66,000 after acquiring an additional 345 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted 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 acquiring an additional 1,270 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings upgraded Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price objective on Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their target price on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Stephens raised their target price on Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, DA Davidson boosted their price target on shares of Knife River from $95.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Knife River Stock Performance

KNF opened at $72.24 on Tuesday. The business has a 50 day moving average price of $81.51 and a two-hundred day moving average price of $79.38. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $95.29. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31.

Knife River (NYSE:KNF) last released its earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.02. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The firm had revenue of $410.13 million for the quarter, compared to analyst estimates of $387.06 million. During the same period in the previous year, the company earned ($1.21) earnings per share. Knife River’s revenue was up 16.0% compared to the same quarter last year. Research analysts predict 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.