Capital World Investors Purchases Shares of 1,011,598 Knife River Corporation $KNF

Capital World Investors purchased a new stake in Knife River Corporation (NYSE:KNF) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,011,598 shares of the company’s stock, valued at approximately $71,166,000. Capital World Investors owned 1.79% of Knife River as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KNF. Hantz Financial Services Inc. raised its holdings in 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 acquiring an additional 200 shares during the period. GAMMA Investing LLC raised its holdings in Knife River by 34.8% in the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after acquiring an additional 177 shares during the period. Larson Financial Group LLC raised its holdings in Knife River by 198.5% in the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock valued at $57,000 after acquiring an additional 536 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Knife River by 1,365.6% during the second quarter. Smartleaf Asset Management LLC now owns 1,363 shares of the company’s stock worth $113,000 after purchasing an additional 1,270 shares during the period. 80.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KNF. Oppenheimer began coverage on shares of Knife River in a report on Thursday, May 28th. They set an “outperform” rating and a $95.00 target price on the stock. Wall Street Zen raised shares of Knife River from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company decreased their price objective on shares of Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada lifted their price objective 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. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Knife River has a consensus rating of “Moderate Buy” and an average target price of $97.29.

Knife River Stock Performance

Shares of Knife River stock opened at $76.24 on Wednesday. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $95.29. 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 market capitalization of $4.33 billion, a P/E ratio of 29.66, a P/E/G ratio of 1.29 and a beta of 0.40. The company’s 50 day moving average price is $81.43 and its two-hundred day moving average price is $79.43.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.02. The firm had revenue of $410.13 million for the quarter, compared to analyst estimates of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.21) earnings per share. On average, equities 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.