Knife River Co. (NYSE:KNF) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. boosted its holdings in Knife River Co. (NYSE:KNF - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 679,547 shares of the company's stock after purchasing an additional 65,930 shares during the period. Congress Asset Management Co. owned about 1.20% of Knife River worth $60,745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System increased its stake in Knife River by 8.4% in the 3rd quarter. New York State Teachers Retirement System now owns 71,230 shares of the company's stock worth $6,367,000 after acquiring an additional 5,494 shares during the last quarter. abrdn plc bought a new position in shares of Knife River during the 3rd quarter valued at about $22,934,000. State of Alaska Department of Revenue increased its position in shares of Knife River by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,556 shares of the company's stock valued at $586,000 after purchasing an additional 445 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Knife River by 27.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,908 shares of the company's stock valued at $618,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC bought a new position in shares of Knife River during the 3rd quarter valued at about $254,000. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer increased their price objective on Knife River from $85.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.60.

Knife River Stock Performance

Shares of KNF stock traded down $1.76 on Thursday, reaching $97.32. The stock had a trading volume of 388,453 shares, compared to its average volume of 377,617. The stock has a market cap of $5.51 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. Knife River Co. has a 1 year low of $48.67 and a 1 year high of $99.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51. The company has a 50 day simple moving average of $86.37 and a 200 day simple moving average of $78.41.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business had revenue of $806.90 million for the quarter, compared to the consensus estimate of $803.81 million. During the same period in the previous year, the business earned $1.00 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. Equities research analysts expect that Knife River Co. will post 3.72 EPS for the current 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.