Knife River Corporation $KNF Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its holdings in Knife River Corporation (NYSE:KNF) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,754,378 shares of the company’s stock after selling 82,710 shares during the period. Vanguard Group Inc. owned approximately 10.16% of Knife River worth $442,339,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new stake in shares of Knife River in the third quarter worth about $169,020,000. State Street Corp boosted its holdings in Knife River by 0.6% in the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company’s stock worth $171,542,000 after acquiring an additional 12,308 shares during the period. Geode Capital Management LLC grew its position in Knife River by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock valued at $113,960,000 after acquiring an additional 15,464 shares in the last quarter. Invesco Ltd. raised its stake in shares of Knife River by 2.9% during the second quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock valued at $103,914,000 after purchasing an additional 35,900 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Knife River by 30.1% during the second quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after purchasing an additional 182,462 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

KNF stock opened at $88.73 on Thursday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.70. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $103.18. The stock’s 50 day simple moving average is $77.55 and its 200 day simple moving average is $75.59. The firm has a market cap of $5.03 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.05 and a beta of 0.47.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Stephens lifted their target price on Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada upped their target price on Knife River from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Wall Street Zen raised shares of Knife River from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.43.

Knife River 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.