Summit Global Investments Buys Shares of 2,563 Knife River Co. (NYSE:KNF)

Summit Global Investments purchased a new position in shares of Knife River Co. (NYSE:KNF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,563 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System grew its holdings in Knife River by 0.8% during the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock worth $1,586,000 after acquiring an additional 124 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Knife River by 58.6% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares during the last quarter. Private Advisor Group LLC grew its stake in Knife River by 1.1% in the fourth quarter. Private Advisor Group LLC now owns 15,696 shares of the company’s stock worth $1,595,000 after purchasing an additional 170 shares in the last quarter. Natixis Advisors LLC increased its holdings in Knife River by 1.6% in the fourth quarter. Natixis Advisors LLC now owns 13,244 shares of the company’s stock valued at $1,346,000 after buying an additional 203 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock valued at $55,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on KNF. Wells Fargo & Company started coverage on Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price for the company. Oppenheimer lifted their price objective on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Stephens reissued an “overweight” rating and set a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River currently has a consensus rating of “Buy” and an average target price of $110.40.

Knife River Price Performance

Shares of NYSE KNF opened at $96.91 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The firm has a market capitalization of $5.49 billion, a PE ratio of 27.37, a P/E/G ratio of 2.36 and a beta of 0.88. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The business’s fifty day moving average price is $97.96 and its two-hundred day moving average price is $96.49.

Knife River (NYSE:KNF) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. On average, research analysts expect that Knife River Co. will post 4.11 EPS for the current year.

Knife River Company 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.