Massachusetts Financial Services Co. MA Makes New Investment in Knife River Co. (NYSE:KNF)

Massachusetts Financial Services Co. MA purchased a new stake in Knife River Co. (NYSE:KNF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 272,973 shares of the company's stock, valued at approximately $27,745,000. Massachusetts Financial Services Co. MA owned 0.48% of Knife River as of its most recent SEC filing.

A number of other large investors have also modified their holdings of KNF. Arizona State Retirement System grew its stake in Knife River by 0.8% during the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company's stock worth $1,586,000 after purchasing an additional 124 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Knife River by 58.6% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $43,000 after buying an additional 157 shares during the period. Private Advisor Group LLC grew its position in shares of Knife River by 1.1% during the fourth quarter. Private Advisor Group LLC now owns 15,696 shares of the company's stock worth $1,595,000 after buying an additional 170 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Knife River by 1.6% during the fourth quarter. Natixis Advisors LLC now owns 13,244 shares of the company's stock worth $1,346,000 after buying an additional 203 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in Knife River by 6.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 3,670 shares of the company's stock valued at $373,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stephens reiterated an "overweight" rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Oppenheimer boosted 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. Finally, Wells Fargo & Company initiated coverage on Knife River in a research note on Monday, March 10th. They issued an "overweight" rating and a $102.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $110.40.

Knife River Stock Up 4.7 %

NYSE:KNF traded up $4.20 during midday trading on Friday, hitting $93.47. 836,541 shares of the company were exchanged, compared to its average volume of 417,617. Knife River Co. has a fifty-two week low of $66.13 and a fifty-two week high of $108.83. The company has a market capitalization of $5.29 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. 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 company has a fifty day simple moving average of $93.69 and a 200 day simple moving average of $96.94.

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 analysts' consensus estimates of $0.40 by $0.01. The business had revenue of $657.20 million for the quarter, compared to analysts' expectations of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. As a group, equities analysts anticipate 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.