Knife River Co. (NYSE:KNF) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Knife River Co. (NYSE:KNF) by 53.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,986 shares of the company’s stock after selling 66,835 shares during the period. Allspring Global Investments Holdings LLC owned 0.10% of Knife River worth $5,823,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KNF. abrdn plc acquired a new position in shares of Knife River in the third quarter valued at approximately $22,934,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Knife River in the third quarter worth approximately $10,267,000. Barclays PLC lifted its stake in Knife River by 156.2% in the third quarter. Barclays PLC now owns 170,101 shares of the company’s stock worth $15,205,000 after acquiring an additional 103,713 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Knife River by 12,902.2% in the third quarter. International Assets Investment Management LLC now owns 71,512 shares of the company’s stock worth $6,392,000 after acquiring an additional 70,962 shares during the last quarter. Finally, Congress Asset Management Co. lifted its stake in Knife River by 10.7% in the third quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock worth $60,745,000 after acquiring an additional 65,930 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KNF. Loop Capital decreased their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. DA Davidson boosted their price objective on shares of 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 shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Stephens reiterated an “overweight” rating and issued a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.50.

Knife River Stock Performance

Shares of KNF opened at $103.02 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The stock has a market capitalization of $5.83 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.35 and a beta of 0.76. The company’s fifty day moving average is $102.30 and its two-hundred day moving average is $93.63. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83.

Knife River (NYSE:KNF) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. On average, sell-side analysts predict that Knife River Co. will post 4.16 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.