New York State Teachers Retirement System Cuts Position in Knife River Co. (NYSE:KNF)

New York State Teachers Retirement System decreased its position in Knife River Co. (NYSE:KNF) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,736 shares of the company’s stock after selling 5,494 shares during the quarter. New York State Teachers Retirement System owned 0.12% of Knife River worth $6,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KNF. Creative Planning increased its position in shares of Knife River by 103.1% during the third quarter. Creative Planning now owns 11,924 shares of the company’s stock worth $1,066,000 after acquiring an additional 6,052 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Knife River by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 124,821 shares of the company’s stock worth $11,158,000 after acquiring an additional 888 shares during the period. Private Advisor Group LLC increased its position in shares of Knife River by 3.4% during the third quarter. Private Advisor Group LLC now owns 15,526 shares of the company’s stock worth $1,388,000 after acquiring an additional 512 shares during the period. Greenleaf Trust purchased a new stake in shares of Knife River during the third quarter worth $214,000. Finally, International Assets Investment Management LLC increased its position in shares of Knife River by 12,902.2% during 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 period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KNF shares. Loop Capital cut their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. DA Davidson boosted their target price on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Stephens reiterated an “overweight” rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Finally, Oppenheimer boosted their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.50.

Knife River Price Performance

Shares of KNF opened at $103.02 on Thursday. Knife River Co. has a fifty-two week low of $66.13 and a fifty-two week high of $108.83. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.35 and a beta of 0.76. The firm has a 50-day simple moving average of $102.30 and a 200-day simple moving average of $93.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. On average, equities research analysts anticipate that Knife River Co. will post 4.16 earnings per share for the current year.

Knife River 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.