PNC Financial Services Group Inc. reduced its stake in Knife River Co. (NYSE:KNF - Free Report) by 62.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,396 shares of the company's stock after selling 7,340 shares during the period. PNC Financial Services Group Inc.'s holdings in Knife River were worth $447,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Huntington National Bank increased its stake in Knife River by 586.0% in 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 period. GAMMA Investing LLC increased its stake in Knife River by 72.8% in the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company's stock worth $55,000 after purchasing an additional 227 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Knife River in the 3rd quarter worth approximately $60,000. KBC Group NV increased its stake in shares of Knife River by 23.1% during the third quarter. KBC Group NV now owns 1,763 shares of the company's stock valued at $158,000 after buying an additional 331 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Knife River by 40.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company's stock valued at $169,000 after buying an additional 476 shares during the period. 80.11% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
KNF has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Knife River in a research note on Monday, March 10th. They set an "overweight" rating and a $102.00 target price on the stock. Oppenheimer boosted their target price on Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Finally, Stephens reissued an "overweight" rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Knife River has an average rating of "Buy" and an average price target of $110.40.
View Our Latest Research Report on Knife River
Knife River Stock Up 0.2 %
KNF stock traded up $0.23 during midday trading on Friday, hitting $91.07. The stock had a trading volume of 826,122 shares, compared to its average volume of 387,815. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. The business has a 50-day moving average of $97.93 and a two-hundred day moving average of $96.19. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64.
Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The company 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 research analysts forecast that Knife River Co. will post 4.11 earnings per share for the current fiscal year.
About Knife River
(
Free Report)
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.
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