Knife River Co. (NYSE:KNF) Shares Purchased by Capital Research Global Investors

Capital Research Global Investors boosted its holdings in shares of Knife River Co. (NYSE:KNF) by 45.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,936,532 shares of the company’s stock after purchasing an additional 603,170 shares during the period. Capital Research Global Investors owned about 3.42% of Knife River worth $196,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of Knife River by 58.6% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after buying an additional 157 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock valued at $55,000 after acquiring an additional 227 shares during the period. Lee Danner & Bass Inc. purchased a new stake in Knife River in the 4th quarter worth approximately $109,000. Physician Wealth Advisors Inc. acquired a new stake in shares of Knife River during the 4th quarter worth approximately $114,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Knife River by 40.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock valued at $169,000 after purchasing an additional 476 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Stock Performance

KNF opened at $91.67 on Monday. The firm’s fifty day simple moving average is $92.77 and its two-hundred day simple moving average is $97.15. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.36 and a beta of 0.97. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

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

Analysts Set New Price Targets

Several research firms recently commented on KNF. Wells Fargo & Company initiated coverage on shares of Knife River in a report on Monday, March 10th. They issued an “overweight” rating and a $102.00 price objective for the company. Stephens restated an “overweight” rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $110.40.

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.