Private Advisor Group LLC Increases Stock Position in Knife River Co. (NYSE:KNF)

Private Advisor Group LLC lifted its holdings in shares of Knife River Co. (NYSE:KNF) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,526 shares of the company’s stock after buying an additional 512 shares during the period. Private Advisor Group LLC’s holdings in Knife River were worth $1,388,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KNF. State of Michigan Retirement System boosted its position in Knife River by 2.2% during the first quarter. State of Michigan Retirement System now owns 13,855 shares of the company’s stock worth $1,123,000 after purchasing an additional 300 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in Knife River in the 1st quarter valued at about $230,000. Retirement Systems of Alabama increased its holdings in Knife River by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock valued at $5,759,000 after acquiring an additional 185 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Knife River by 3.1% during the first quarter. Janney Montgomery Scott LLC now owns 17,931 shares of the company’s stock worth $1,454,000 after acquiring an additional 543 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Knife River by 34.9% in the first quarter. Capstone Investment Advisors LLC now owns 17,990 shares of the company’s stock valued at $1,459,000 after purchasing an additional 4,657 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their price target on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Knife River has a consensus rating of “Moderate Buy” and an average target price of $86.60.

Knife River Stock Performance

Shares of NYSE KNF opened at $97.32 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $86.80 and its two-hundred day moving average price is $78.55. Knife River Co. has a 52-week low of $48.67 and a 52-week high of $99.54. The stock has a market capitalization of $5.51 billion, a P/E ratio of 28.05, a P/E/G ratio of 2.26 and a beta of 0.82.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The business had revenue of $806.90 million for the quarter, compared to analysts’ expectations of $803.81 million. During the same quarter last year, the company earned $1.00 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Knife River Co. will post 3.72 earnings per share for the current year.

About Knife River

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.