Envestnet Asset Management Inc. Acquires 4,205 Shares of Knife River Co. (NYSE:KNF)

Envestnet Asset Management Inc. raised its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,236 shares of the company's stock after purchasing an additional 4,205 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Knife River worth $3,886,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stephens reaffirmed an "overweight" rating and set a $120.00 price objective on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company initiated coverage on shares of Knife River in a report on Monday, March 10th. They issued an "overweight" rating and a $102.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $110.40.

Knife River Stock Performance

NYSE KNF opened at $89.63 on Thursday. The company has a market cap of $5.08 billion, a P/E ratio of 25.32, a PEG ratio of 2.36 and a beta of 0.97. The company has a fifty day simple moving average of $92.01 and a 200 day simple moving average of $97.00. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. Knife River Co. has a 12-month low of $66.13 and a 12-month 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. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Sell-side analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

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.

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