Knife River Co. (NYSE:KNF) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc lowered its holdings in Knife River Co. (NYSE:KNF) by 14.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,833 shares of the company’s stock after selling 1,014 shares during the period. AdvisorNet Financial Inc’s holdings in Knife River were worth $473,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Congress Asset Management Co. MA purchased a new position in Knife River in the first quarter worth approximately $4,408,000. CWM LLC lifted its stake in Knife River by 123.2% in the first quarter. CWM LLC now owns 6,981 shares of the company’s stock worth $566,000 after acquiring an additional 3,853 shares during the last quarter. Vanguard Group Inc. lifted its stake in Knife River by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock worth $400,004,000 after acquiring an additional 503,892 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Knife River in the fourth quarter worth approximately $211,000. Finally, Goldman Sachs Group Inc. lifted its stake in Knife River by 122.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after acquiring an additional 450,574 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Ratings Changes

KNF has been the subject of a number of recent research reports. Stephens initiated coverage on shares of Knife River in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target for the company. Oppenheimer lifted their price target on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Wolfe Research assumed coverage on shares of Knife River in a research report on Friday, March 8th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.67.

Knife River Stock Up 3.2 %

Shares of NYSE:KNF opened at $70.28 on Tuesday. The company has a market capitalization of $3.98 billion and a PE ratio of 22.67. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Knife River Co. has a twelve month low of $41.53 and a twelve month high of $83.78. The firm has a 50 day simple moving average of $73.77 and a 200-day simple moving average of $71.60.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.04). Knife River had a net margin of 6.19% and a return on equity of 14.65%. The business had revenue of $329.60 million during the quarter, compared to analysts’ expectations of $300.98 million. During the same quarter last year, the company earned ($516.50) EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Knife River Co. will post 3.52 EPS for the current fiscal year.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.