JPMorgan Chase & Co. Buys 49,785 Shares of Knife River Co. (NYSE:KNF)

JPMorgan Chase & Co. boosted its stake in shares of Knife River Co. (NYSE:KNF) by 31.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,136 shares of the company’s stock after acquiring an additional 49,785 shares during the quarter. JPMorgan Chase & Co. owned 0.37% of Knife River worth $18,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Knife River by 10.5% during the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after purchasing an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Knife River by 165.4% during the third quarter. Harbor Capital Advisors Inc. now owns 38,160 shares of the company’s stock worth $3,411,000 after buying an additional 23,779 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Knife River by 24.4% during the third quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock worth $2,278,000 after buying an additional 5,004 shares in the last quarter. Ausbil Investment Management Ltd raised its stake in shares of Knife River by 599.5% in the third quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock valued at $1,750,000 after acquiring an additional 16,780 shares during the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in shares of Knife River in the third quarter valued at approximately $567,000. 80.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KNF shares. DA Davidson raised their price target on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Loop Capital lowered their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Oppenheimer upped their price target 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.75.

Knife River Stock Up 1.0 %

Shares of KNF opened at $98.00 on Friday. The business’s fifty day moving average price is $100.93 and its two-hundred day moving average price is $87.91. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 2.81 and a beta of 0.78. Knife River Co. has a 52 week low of $61.82 and a 52 week high of $108.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72.

Knife River (NYSE:KNF) last posted its quarterly earnings results 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 the consensus estimate of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 EPS. On average, analysts predict that Knife River Co. will post 3.49 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.