Planned Solutions Inc. Takes Position in Knife River Co. (NYSE:KNF)

Planned Solutions Inc. bought a new position in Knife River Co. (NYSE:KNF) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 806 shares of the company’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its stake in shares of Knife River by 87.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock worth $2,408,000 after buying an additional 23,022 shares during the period. Quadrature Capital Ltd purchased a new position in Knife River during the third quarter valued at approximately $893,000. Geode Capital Management LLC bought a new position in shares of Knife River in the second quarter worth approximately $46,886,000. Schonfeld Strategic Advisors LLC increased its stake in shares of Knife River by 19.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after purchasing an additional 184,192 shares in the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Knife River by 14.2% during the 3rd quarter. WINTON GROUP Ltd now owns 77,528 shares of the company’s stock valued at $3,786,000 after purchasing an additional 9,648 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KNF shares. Siebert Williams Shank upped their target price on shares of Knife River from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, December 26th. Oppenheimer increased their target price on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Bank of America initiated coverage on Knife River in a report on Friday, January 5th. They issued a “buy” rating and a $81.00 price target on the stock. Wolfe Research started coverage on shares of Knife River in a report on Friday, March 8th. They set a “peer perform” rating for the company. Finally, Loop Capital began coverage on shares of Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Knife River has an average rating of “Moderate Buy” and an average target price of $76.20.

Knife River Price Performance

Shares of Knife River stock opened at $81.11 on Friday. The firm has a market cap of $4.59 billion and a PE ratio of -0.16. The stock has a 50 day moving average of $71.75 and a 200 day moving average of $62.05. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. Knife River Co. has a 12 month low of $33.67 and a 12 month high of $81.38.

Knife River (NYSE:KNF) last posted its earnings results on Thursday, February 15th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The firm had revenue of $646.90 million during the quarter, compared to the consensus estimate of $566.47 million. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Knife River Co. will post 3.5 EPS for the current fiscal 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 six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.