Allspring Global Investments Holdings LLC Reduces Position in Knife River Co. (NYSE:KNF)

Allspring Global Investments Holdings LLC reduced its position in Knife River Co. (NYSE:KNF - Free Report) by 53.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,986 shares of the company's stock after selling 66,835 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of Knife River worth $5,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in Knife River by 586.0% during the 3rd quarter. Huntington National Bank now owns 343 shares of the company's stock worth $31,000 after purchasing an additional 293 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock valued at $55,000 after acquiring an additional 227 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Knife River in the third quarter worth $60,000. Sittner & Nelson LLC increased its position in shares of Knife River by 18.5% in the third quarter. Sittner & Nelson LLC now owns 960 shares of the company's stock valued at $86,000 after buying an additional 150 shares in the last quarter. Finally, Covestor Ltd increased its position in Knife River by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company's stock worth $115,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KNF. 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. Oppenheimer upped their price objective on Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Loop Capital dropped their price target on Knife River from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Finally, DA Davidson upped their price target on Knife River from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Knife River presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.50.

Knife River Price Performance

NYSE KNF traded down $7.51 on Friday, hitting $93.84. 308,308 shares of the company's stock were exchanged, compared to its average volume of 424,588. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 2.40 and a beta of 0.76. 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 52 week low of $66.13 and a 52 week high of $108.83. The stock has a 50-day moving average of $102.22 and a 200-day moving average of $93.68.

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 analysts' expectations of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. Analysts expect that Knife River Co. will post 4.11 earnings per share for the current year.

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.