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

Principal Financial Group Inc. lessened its holdings in shares of Knife River Co. (NYSE:KNF) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,329 shares of the company’s stock after selling 39,646 shares during the period. Principal Financial Group Inc. owned 0.27% of Knife River worth $13,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in KNF. GAMMA Investing LLC increased its stake in Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Huntington National Bank grew its position in shares of Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Knife River during the 2nd quarter worth $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Knife River in the second quarter valued at $43,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Knife River in the third quarter valued at $60,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KNF. DA Davidson lifted their target price on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer boosted their price objective on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Loop Capital lowered their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.20.

Knife River Trading Down 1.1 %

Shares of KNF stock opened at $102.97 on Friday. Knife River Co. has a twelve month low of $61.50 and a twelve month high of $108.39. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $99.97 and its two-hundred day moving average is $86.12. The company has a market capitalization of $5.83 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 2.81 and a beta of 0.70.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.58 earnings per share. Equities analysts forecast that Knife River Co. will post 3.49 EPS for the current 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.