Capital Research Global Investors Reduces Stake in Knife River Corporation $KNF

Capital Research Global Investors lessened its holdings in Knife River Corporation (NYSE:KNF) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,862,778 shares of the company’s stock after selling 39,966 shares during the quarter. Capital Research Global Investors owned about 3.29% of Knife River worth $143,192,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares 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 acquiring an additional 200 shares during the last quarter. Country Trust Bank purchased a new position in shares of Knife River during the second quarter worth $40,000. Quent Capital LLC acquired a new position in Knife River during the third quarter valued at $47,000. UMB Bank n.a. lifted its position in Knife River by 124.5% during the third quarter. UMB Bank n.a. now owns 743 shares of the company’s stock valued at $57,000 after purchasing an additional 412 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Knife River by 42.4% in the second quarter. Parkside Financial Bank & Trust now owns 860 shares of the company’s stock valued at $70,000 after purchasing an additional 256 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KNF. DA Davidson increased their price target on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Stephens raised their target price on Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. lifted their price target on Knife River from $83.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, B. Riley Financial initiated coverage on Knife River in a research report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Knife River has an average rating of “Moderate Buy” and an average price target of $97.43.

Knife River Trading Down 1.4%

Shares of Knife River stock opened at $79.89 on Thursday. The firm has a 50-day simple moving average of $79.94 and a two-hundred day simple moving average of $75.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 2.54. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $103.18. The company has a market cap of $4.53 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 1.82 and a beta of 0.27.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The firm had revenue of $755.06 million for the quarter, compared to analysts’ expectations of $726.60 million. During the same period last year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts predict that Knife River Corporation will post 4.11 earnings per share 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.