California Public Employees Retirement System Raises Position in Knife River Co. (NYSE:KNF)

California Public Employees Retirement System boosted its stake in Knife River Co. (NYSE:KNF) by 12.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,956 shares of the company’s stock after buying an additional 10,403 shares during the period. California Public Employees Retirement System owned 0.16% of Knife River worth $6,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KNF. Vanguard Group Inc. increased its stake in shares of Knife River by 0.9% during the third quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company’s stock valued at $270,532,000 after purchasing an additional 46,737 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Knife River by 19.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock valued at $54,720,000 after purchasing an additional 184,192 shares in the last quarter. Northern Trust Corp increased its stake in shares of Knife River by 4.6% during the third quarter. Northern Trust Corp now owns 610,212 shares of the company’s stock valued at $29,797,000 after purchasing an additional 26,757 shares in the last quarter. US Bancorp DE increased its stake in shares of Knife River by 1.5% during the third quarter. US Bancorp DE now owns 446,710 shares of the company’s stock valued at $21,813,000 after purchasing an additional 6,521 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Knife River by 48.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 348,541 shares of the company’s stock valued at $17,019,000 after purchasing an additional 113,575 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Up 0.0 %

NYSE:KNF opened at $78.99 on Friday. 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 $83.78. The company has a market cap of $4.47 billion and a PE ratio of -0.15. The company has a 50 day simple moving average of $77.61 and a two-hundred day simple moving average of $67.31.

Knife River (NYSE:KNF) last posted its earnings results on Thursday, February 15th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. Knife River had a net margin of 6.46% and a return on equity of 15.98%. The business had revenue of $646.90 million during the quarter, compared to the consensus estimate of $566.47 million. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts forecast that Knife River Co. will post 3.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KNF shares. Loop Capital began coverage on shares of Knife River in a research note on Tuesday, February 13th. They set a “buy” rating and a $81.00 target price for the company. Oppenheimer raised their price target on shares of Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Wolfe Research began coverage on shares of Knife River in a research report on Friday, March 8th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.20.

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.