By otakuyassine3@gmail.com 
LPL Financial LLC raised its stake in Knife River Co. (NYSE:KNF – Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,186 shares of the company’s stock after buying an additional 6,567 shares during the quarter. LPL Financial LLC owned 0.18% of Knife River worth $10,488,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after buying an additional 39,991 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Knife River by 34.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company’s stock worth $5,220,000 after acquiring an additional 13,199 shares in the last quarter. State Street Corp increased its stake in shares of Knife River by 1.8% during the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock worth $179,054,000 after purchasing an additional 34,646 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Knife River by 31.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock valued at $18,695,000 after purchasing an additional 49,785 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Knife River by 36.3% in the 3rd quarter. Stifel Financial Corp now owns 44,495 shares of the company’s stock valued at $3,977,000 after purchasing an additional 11,839 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Knife River in a research report on Monday, March 10th. They set an “overweight” rating and a $102.00 target price on the stock. Oppenheimer increased their price objective on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Stephens reissued an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $110.40.
Get Our Latest Report on Knife River
Knife River Stock Down 4.4 %
Knife River stock opened at $91.07 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. Knife River Co. has a fifty-two week low of $66.13 and a fifty-two week high of $108.83. The firm has a fifty day moving average price of $96.19 and a two-hundred day moving average price of $97.05. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 2.36 and a beta of 0.89.
Knife River (NYSE:KNF – Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating 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 firm had revenue of $657.20 million during the quarter, compared to analysts’ expectations of $655.80 million. As a group, analysts forecast that Knife River Co. will post 4.11 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.
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