Thrivent Financial for Lutherans Decreases Position in Knife River Co. (NYSE:KNF)

Thrivent Financial for Lutherans lowered its position in Knife River Co. (NYSE:KNF) by 1.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 77,682 shares of the company’s stock after selling 1,121 shares during the period. Thrivent Financial for Lutherans’ holdings in Knife River were worth $7,895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in KNF. Intech Investment Management LLC acquired a new stake in Knife River in the 3rd quarter valued at about $920,000. Charles Schwab Investment Management Inc. grew its position in shares of Knife River by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after purchasing an additional 5,791 shares during the last quarter. Citigroup Inc. increased its stake in shares of Knife River by 222.9% during the 3rd quarter. Citigroup Inc. now owns 51,425 shares of the company’s stock worth $4,597,000 after purchasing an additional 35,497 shares in the last quarter. Cerity Partners LLC raised its position in shares of Knife River by 24.4% during the 3rd quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock worth $2,278,000 after purchasing an additional 5,004 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Knife River in the 3rd quarter valued at approximately $60,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Price Performance

Shares of NYSE:KNF opened at $91.07 on Monday. The company has a market cap of $5.16 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.36 and a beta of 0.88. The business has a fifty day simple moving average of $97.93 and a 200-day simple moving average of $96.34. Knife River Co. has a 52 week low of $66.13 and a 52 week 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.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. The company 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 research analysts forecast that Knife River Co. will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KNF shares. Stephens reissued an “overweight” rating and set a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company assumed coverage on Knife River in a research report on Monday, March 10th. They set an “overweight” rating and a $102.00 price objective for the company. Finally, Oppenheimer upped their target price on shares of Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $110.40.

Knife River Company 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.