Knife River Corporation $KNF Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC grew its position in shares of Knife River Corporation (NYSE:KNF) by 9.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 111,140 shares of the company’s stock after buying an additional 9,413 shares during the quarter. Gabelli Funds LLC’s holdings in Knife River were worth $8,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. acquired a new stake in shares of Knife River during the 3rd quarter valued at approximately $169,020,000. Norges Bank bought a new position in Knife River during the second quarter worth $53,260,000. Ameriprise Financial Inc. boosted its holdings in Knife River by 30.1% in 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 during the period. Raymond James Financial Inc. boosted its holdings in Knife River by 71.0% in the second quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock worth $28,971,000 after purchasing an additional 147,387 shares during the period. Finally, Franklin Resources Inc. increased its stake in Knife River by 27.2% during the second quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock valued at $55,998,000 after purchasing an additional 146,782 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stephens increased their target price on shares of Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. B. Riley Financial initiated coverage on shares of Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price target for the company. DA Davidson boosted their price objective on shares of Knife River from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada increased their price objective on shares of Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Knife River from $83.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.43.

Knife River Price Performance

Shares of NYSE:KNF opened at $80.19 on Monday. The firm’s 50 day moving average is $79.39 and its two-hundred day moving average is $75.32. The firm has a market capitalization of $4.54 billion, a P/E ratio of 29.05, a PEG ratio of 1.81 and a beta of 0.26. 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 52 week low of $58.72 and a 52 week high of $103.18.

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