US Bancorp DE Increases Position in Knife River Co. (NYSE:KNF)

US Bancorp DE increased its stake in shares of Knife River Co. (NYSE:KNF) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 423,337 shares of the company’s stock after purchasing an additional 1,090 shares during the quarter. US Bancorp DE’s holdings in Knife River were worth $37,842,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. State of Michigan Retirement System lifted its position in shares of Knife River by 2.2% during the first quarter. State of Michigan Retirement System now owns 13,855 shares of the company’s stock valued at $1,123,000 after buying an additional 300 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in Knife River in the first quarter valued at approximately $230,000. Retirement Systems of Alabama grew its holdings in Knife River by 0.3% in the first quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock worth $5,759,000 after purchasing an additional 185 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Knife River by 9.5% during the first quarter. Private Advisor Group LLC now owns 13,837 shares of the company’s stock worth $1,122,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Knife River by 3.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,931 shares of the company’s stock valued at $1,454,000 after purchasing an additional 543 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Trading Down 1.8 %

NYSE:KNF opened at $97.32 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $86.80 and a 200-day simple moving average of $78.55. Knife River Co. has a 12 month low of $48.67 and a 12 month high of $99.54. The company has a market capitalization of $5.51 billion, a P/E ratio of 28.05, a PEG ratio of 2.44 and a beta of 0.82.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business had revenue of $806.90 million for the quarter, compared to the consensus estimate of $803.81 million. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Knife River Co. will post 3.68 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Oppenheimer boosted their target price on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.60.

Knife River 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.