Knife River Corporation $KNF Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in Knife River Corporation (NYSE:KNF) by 23.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,196 shares of the company’s stock after selling 8,706 shares during the period. TD Asset Management Inc’s holdings in Knife River were worth $2,167,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Register Financial Advisors LLC raised its stake in shares of Knife River by 117.8% in the 3rd quarter. Register Financial Advisors LLC now owns 36,115 shares of the company’s stock valued at $2,776,000 after acquiring an additional 19,536 shares during the period. Franklin Resources Inc. boosted its stake in Knife River by 27.2% during the 2nd quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock valued at $55,998,000 after acquiring an additional 146,782 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of Knife River by 103.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 15,486 shares of the company’s stock valued at $1,190,000 after acquiring an additional 7,866 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Knife River by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock valued at $14,825,000 after buying an additional 4,889 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Knife River by 21.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 81,315 shares of the company’s stock worth $6,250,000 after purchasing an additional 14,253 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Down 1.0%

Shares of NYSE KNF opened at $87.58 on Thursday. The company has a 50-day moving average of $79.05 and a two-hundred day moving average of $75.49. 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 1-year low of $58.72 and a 1-year high of $103.18. The company has a market cap of $4.96 billion, a PE ratio of 31.73, a P/E/G ratio of 2.04 and a beta of 0.27.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KNF shares. Royal Bank Of Canada increased their price target on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Stephens upped their price target on Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Wells Fargo & Company downgraded Knife River from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $75.00 to $81.00 in a research note on Wednesday, February 18th. DA Davidson upped their target price on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, B. Riley Financial assumed coverage on shares of Knife River in a report on Thursday, January 15th. They set a “buy” rating and a $92.00 price target for the company. Six equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

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.