Charles Schwab Investment Management Inc. Decreases Stake in Knife River Co. (NYSE:KNF)

Charles Schwab Investment Management Inc. reduced its holdings in Knife River Co. (NYSE:KNF - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 692,682 shares of the company's stock after selling 6,651 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.22% of Knife River worth $70,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in shares of Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock worth $38,201,000 after buying an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Knife River by 34.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company's stock worth $5,220,000 after purchasing an additional 13,199 shares during the period. Cerity Partners LLC raised its stake in Knife River by 24.4% during the third 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 period. State Street Corp raised its stake in Knife River by 1.8% during the third quarter. State Street Corp now owns 2,003,069 shares of the company's stock worth $179,054,000 after purchasing an additional 34,646 shares during the period. Finally, Chesapeake Capital Corp IL purchased a new position in Knife River during the third quarter worth about $567,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KNF has been the topic of a number of analyst reports. Oppenheimer lifted their target price 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. Stephens reaffirmed an "overweight" rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Finally, Wells Fargo & Company initiated coverage on shares of Knife River in a research note on Monday. They set an "overweight" rating and a $102.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $110.40.

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Knife River Price Performance

Shares of KNF opened at $87.45 on Wednesday. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The stock has a market cap of $4.95 billion, a PE ratio of 24.70, a P/E/G ratio of 2.36 and a beta of 0.88. The firm has a 50-day simple moving average of $99.13 and a two-hundred day simple moving average of $95.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $657.20 million during the quarter, compared to analysts' expectations of $655.80 million. As a group, analysts forecast that Knife River Co. will post 4.11 EPS for the current 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.

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