Geode Capital Management LLC Increases Position in Knife River Co. (NYSE:KNF)

Geode Capital Management LLC raised its position in shares of Knife River Co. (NYSE:KNF) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,337,273 shares of the company’s stock after buying an additional 26,198 shares during the period. Geode Capital Management LLC’s holdings in Knife River were worth $119,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Barclays PLC grew its position in Knife River by 156.2% in the 3rd quarter. Barclays PLC now owns 170,101 shares of the company’s stock valued at $15,205,000 after acquiring an additional 103,713 shares in the last quarter. MML Investors Services LLC acquired a new position in shares of Knife River in the third quarter valued at approximately $255,000. Orion Portfolio Solutions LLC increased its stake in Knife River by 7.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,446 shares of the company’s stock worth $308,000 after buying an additional 244 shares during the period. State Street Corp lifted its holdings in Knife River by 1.8% during the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock worth $179,054,000 after buying an additional 34,646 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Knife River by 36.3% in the third quarter. Stifel Financial Corp now owns 44,495 shares of the company’s stock worth $3,977,000 after acquiring an additional 11,839 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KNF shares. DA Davidson lifted their target price on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Loop Capital lowered their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Oppenheimer lifted their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.33.

Knife River Stock Performance

Shares of KNF opened at $104.89 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. Knife River Co. has a 52-week low of $61.50 and a 52-week high of $107.96. The stock has a 50 day moving average price of $98.07 and a 200 day moving average price of $84.31. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 2.90 and a beta of 0.70.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. Knife River’s revenue was up 1.4% compared to the same quarter last year. Research analysts predict that Knife River Co. will post 3.49 EPS for the current fiscal year.

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.