PNC Financial Services Group Inc. lessened its stake in Knife River Co. (NYSE:KNF – Free Report) by 9.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,507 shares of the company’s stock after selling 1,886 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Knife River were worth $1,159,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Knife River during the fourth quarter valued at $40,548,000. Vanguard Group Inc. raised its stake in Knife River by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after purchasing an additional 503,892 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Knife River by 122.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock valued at $54,221,000 after purchasing an additional 450,574 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in Knife River by 48.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock valued at $76,138,000 after purchasing an additional 373,359 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Knife River by 4,029.5% during the fourth quarter. Federated Hermes Inc. now owns 251,567 shares of the company’s stock valued at $16,649,000 after purchasing an additional 245,475 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.
Knife River Trading Down 0.9 %
NYSE KNF opened at $68.07 on Friday. The company’s 50-day moving average price is $73.97 and its 200-day moving average price is $71.47. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market cap of $3.85 billion and a PE ratio of 21.96. Knife River Co. has a 12 month low of $41.53 and a 12 month high of $83.78.
Knife River (NYSE:KNF – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.04). The company had revenue of $329.60 million during the quarter, compared to the consensus estimate of $300.98 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($516.50) earnings per share. Equities research analysts forecast that Knife River Co. will post 3.52 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Stephens assumed coverage on shares of Knife River in a research note on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price target on the stock. Wolfe Research began coverage on shares of Knife River in a research report on Friday, March 8th. They set a “peer perform” rating on the stock. Finally, Oppenheimer boosted their price objective 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.67.
Get Our Latest Stock Analysis on KNF
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.
See Also
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Source: defenseworld.net
