Bleakley Financial Group LLC Purchases New Stake in Knife River Corporation $KNF

Bleakley Financial Group LLC acquired a new position in Knife River Corporation (NYSE:KNF) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,346 shares of the company’s stock, valued at approximately $1,743,000.

A number of other institutional investors have also recently bought and sold shares of the business. State of Michigan Retirement System grew its stake in Knife River by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 13,655 shares of the company’s stock valued at $1,115,000 after acquiring an additional 300 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Knife River by 6.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 86,360 shares of the company’s stock valued at $7,051,000 after purchasing an additional 5,200 shares in the last quarter. Fifth Third Bancorp grew its position in Knife River by 4,046.2% during the first quarter. Fifth Third Bancorp now owns 22,970 shares of the company’s stock valued at $1,875,000 after purchasing an additional 22,416 shares in the last quarter. Hsbc Holdings PLC increased its stake in Knife River by 34.7% in the 1st quarter. Hsbc Holdings PLC now owns 7,767 shares of the company’s stock valued at $630,000 after buying an additional 2,002 shares during the period. Finally, Kestra Advisory Services LLC increased its stake in Knife River by 12.7% in the 1st quarter. Kestra Advisory Services LLC now owns 2,948 shares of the company’s stock valued at $241,000 after buying an additional 332 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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. Wells Fargo & Company boosted their price target on shares of Knife River from $80.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their price objective on Knife River from $109.00 to $107.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Finally, Oppenheimer assumed coverage on Knife River in a research report on Thursday, May 28th. They set an “outperform” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.14.

Knife River Stock Up 1.4%

Knife River stock opened at $83.45 on Friday. The company has a market capitalization of $4.74 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.47 and a beta of 0.37. The firm’s fifty day simple moving average is $80.44 and its 200-day simple moving average is $81.14. The company has a current ratio of 2.67, a quick ratio of 1.31 and a debt-to-equity ratio of 0.91. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $96.28.

Knife River (NYSE:KNF) last issued its quarterly earnings data 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. The firm had revenue of $410.13 million during the quarter, compared to analysts’ expectations of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. Knife River’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.21) earnings per share. Sell-side analysts forecast that Knife River Corporation will post 3.32 earnings per share for the current fiscal 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.