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

Geode Capital Management LLC grew its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,337,273 shares of the company's stock after buying an additional 26,198 shares during the quarter. Geode Capital Management LLC owned 2.36% of Knife River worth $119,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in shares of Knife River by 165.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 38,160 shares of the company's stock valued at $3,411,000 after buying an additional 23,779 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 valued at $2,278,000 after buying an additional 5,004 shares in the last quarter. Ausbil Investment Management Ltd raised its position in shares of Knife River by 599.5% during the 3rd quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company's stock valued at $1,750,000 after buying an additional 16,780 shares in the last quarter. Chesapeake Capital Corp IL purchased a new stake in shares of Knife River during the 3rd quarter valued at $567,000. Finally, Charles Schwab Investment Management Inc. raised its position in Knife River by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company's stock worth $62,513,000 after purchasing an additional 5,791 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Trading Down 3.7 %

Shares of NYSE KNF traded down $3.93 during midday trading on Wednesday, hitting $100.92. 686,865 shares of the company traded hands, compared to its average volume of 390,936. Knife River Co. has a 12-month low of $61.50 and a 12-month high of $108.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The stock has a 50-day moving average price of $98.07 and a 200 day moving average price of $84.31. The firm has a market cap of $5.71 billion, a P/E ratio of 28.92, a P/E/G ratio of 2.90 and a beta of 0.70.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. DA Davidson boosted their price target on shares of Knife River from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Oppenheimer boosted 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. Finally, Loop Capital lowered their price target on shares of Knife River from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $95.33.

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.