Raymond James Financial Inc. Acquires Shares of 143,646 Knife River Co. (NYSE:KNF)

Raymond James Financial Inc. acquired a new stake in Knife River Co. (NYSE:KNF - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 143,646 shares of the company's stock, valued at approximately $14,600,000. Raymond James Financial Inc. owned approximately 0.25% of Knife River at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in shares of Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock worth $111,965,000 after buying an additional 983,223 shares in the last quarter. American Century Companies Inc. raised its stake in Knife River by 1,200.8% during the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company's stock worth $90,224,000 after acquiring an additional 819,439 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Knife River by 83.7% in the fourth quarter. Invesco Ltd. now owns 879,796 shares of the company's stock worth $89,422,000 after acquiring an additional 400,954 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Knife River by 2.5% in the 4th quarter. Congress Asset Management Co. now owns 696,245 shares of the company's stock valued at $70,766,000 after purchasing an additional 16,698 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Knife River during the 4th quarter valued at approximately $66,631,000. Institutional investors own 80.11% of the company's stock.

Knife River Stock Down 1.3 %

Shares of NYSE KNF traded down $1.17 during trading on Friday, hitting $92.41. The stock had a trading volume of 187,394 shares, compared to its average volume of 420,907. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company has a market capitalization of $5.24 billion, a PE ratio of 26.04, a PEG ratio of 2.36 and a beta of 0.97. The firm has a fifty day moving average of $91.84 and a two-hundred day moving average of $97.04. 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 released 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 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 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company started coverage on Knife River in a research report on Monday, March 10th. They set an "overweight" rating and a $102.00 price objective on the stock. Stephens reiterated an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $110.40.

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.