Harbor Capital Advisors Inc. Grows Stake in Knife River Co. (NYSE:KNF)

Harbor Capital Advisors Inc. increased its position in Knife River Co. (NYSE:KNF - Free Report) by 165.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,160 shares of the company's stock after buying an additional 23,779 shares during the period. Harbor Capital Advisors Inc. owned 0.07% of Knife River worth $3,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. abrdn plc bought a new position in shares of Knife River during the 3rd quarter valued at approximately $22,934,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company's stock valued at $144,785,000 after buying an additional 224,373 shares in the last quarter. Swedbank AB bought a new position in shares of Knife River in the 1st quarter valued at about $9,730,000. M&G Plc purchased a new position in Knife River in the first quarter worth about $9,289,000. Finally, Interval Partners LP bought a new stake in Knife River during the second quarter worth approximately $7,614,000. 80.11% of the stock is owned by institutional investors.

Knife River Trading Down 8.5 %

Shares of NYSE:KNF traded down $8.24 during trading hours on Monday, hitting $89.23. 1,079,641 shares of the company's stock traded hands, compared to its average volume of 381,854. The firm has a market capitalization of $5.05 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The business has a fifty day moving average price of $87.16 and a 200-day moving average price of $78.67. Knife River Co. has a 1 year low of $54.05 and a 1 year high of $99.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts' consensus estimates of $2.82 by ($0.22). The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.12 billion. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. Equities analysts expect that Knife River Co. will post 3.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Oppenheimer lifted their target price on Knife River from $85.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.60.

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.