Alliancebernstein L.P. Grows Stake in Knife River Co. (NYSE:KNF)

Alliancebernstein L.P. raised its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 830.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,101,588 shares of the company's stock after buying an additional 983,223 shares during the quarter. Alliancebernstein L.P. owned about 1.95% of Knife River worth $111,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC increased its holdings in shares of Knife River by 58.6% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock worth $43,000 after purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC increased its stake in Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock worth $55,000 after acquiring an additional 227 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Knife River in the 4th quarter valued at approximately $109,000. Physician Wealth Advisors Inc. bought a new position in shares of Knife River during the 4th quarter valued at approximately $114,000. Finally, Jones Financial Companies Lllp raised its holdings in Knife River by 40.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company's stock valued at $169,000 after buying an additional 476 shares during the period. Institutional investors own 80.11% of the company's stock.

Analysts Set New Price Targets

KNF has been the topic of a number of analyst reports. Stephens reiterated an "overweight" rating and set a $120.00 price objective on shares of Knife River in a research report on Friday, February 14th. Oppenheimer increased their price target on Knife River from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Wells Fargo & Company began coverage on shares of Knife River in a report on Monday, March 10th. They set an "overweight" rating and a $102.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $110.40.

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Knife River Stock Performance

Shares of NYSE KNF traded up $0.50 during midday trading on Monday, reaching $84.40. The company had a trading volume of 140,612 shares, compared to its average volume of 409,057. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The business's 50-day simple moving average is $95.77 and its 200 day simple moving average is $97.14. The stock has a market cap of $4.78 billion, a P/E ratio of 23.87, a P/E/G ratio of 2.36 and a beta of 0.97. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm 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, analysts forecast that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

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.