First Trust Advisors LP Has $16.83 Million Stake in Knife River Co. (NYSE:KNF)

First Trust Advisors LP grew its stake in Knife River Co. (NYSE:KNF) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,584 shares of the company’s stock after buying an additional 21,586 shares during the period. First Trust Advisors LP owned approximately 0.29% of Knife River worth $16,830,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in KNF. Alliancebernstein L.P. boosted its position in Knife River by 830.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after purchasing an additional 983,223 shares during the period. American Century Companies Inc. lifted its stake in shares of Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock worth $90,224,000 after buying an additional 819,439 shares during the last quarter. Norges Bank bought a new stake in shares of Knife River during the 4th quarter worth $66,631,000. Invesco Ltd. grew its stake in Knife River by 83.7% in the 4th quarter. Invesco Ltd. now owns 879,796 shares of the company’s stock valued at $89,422,000 after buying an additional 400,954 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Knife River in the 4th quarter worth $27,745,000. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 1.2 %

KNF stock opened at $92.46 on Friday. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The company has a market cap of $5.24 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The business’s 50-day simple moving average is $91.58 and its 200 day simple moving average is $97.13.

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

Analysts Set New Price Targets

KNF has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Wells Fargo & Company initiated coverage on Knife River in a report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River presently has an average rating of “Buy” and a consensus 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.