Knife River Co. (NYSE:KNF) Stock Position Trimmed by LSV Asset Management

LSV Asset Management cut its position in Knife River Co. (NYSE:KNF) by 57.1% during the 4th quarter, HoldingsChannel reports. The firm owned 48,475 shares of the company’s stock after selling 64,398 shares during the quarter. LSV Asset Management’s holdings in Knife River were worth $3,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. boosted its holdings in shares of Knife River by 4,029.5% in the fourth quarter. Federated Hermes Inc. now owns 251,567 shares of the company’s stock worth $16,649,000 after buying an additional 245,475 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in Knife River by 19.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after buying an additional 184,192 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Knife River during the 3rd quarter valued at $6,739,000. Eagle Asset Management Inc. purchased a new position in shares of Knife River during the 3rd quarter valued at $6,273,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Knife River by 48.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 348,541 shares of the company’s stock worth $17,019,000 after acquiring an additional 113,575 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Knife River Stock Down 3.4 %

Shares of Knife River stock opened at $76.17 on Thursday. The stock has a market capitalization of $4.31 billion and a P/E ratio of -0.15. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $77.99 and a two-hundred day moving average price of $67.90. Knife River Co. has a 12-month low of $33.67 and a 12-month high of $83.78.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.04). The company had revenue of $329.60 million for the quarter, compared to the consensus estimate of $300.98 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($516.50) EPS. Equities analysts expect that Knife River Co. will post 3.5 earnings per share for the current year.

About Knife River

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.