Knife River Co. (NYSE:KNF) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN grew its stake in Knife River Co. (NYSE:KNF - Free Report) by 15.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,940 shares of the company's stock after purchasing an additional 7,975 shares during the period. Wells Fargo & Company MN owned approximately 0.11% of Knife River worth $6,194,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of Knife River by 10.5% during the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock valued at $38,201,000 after purchasing an additional 39,991 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Knife River by 34.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company's stock valued at $5,220,000 after purchasing an additional 13,199 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Knife River by 31.2% during the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company's stock valued at $18,695,000 after purchasing an additional 49,785 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of Knife River during the fourth quarter valued at $2,703,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Knife River during the fourth quarter valued at $2,062,000. 80.11% of the stock is owned by institutional investors.

Knife River Stock Up 2.1 %

Shares of KNF traded up $1.88 during mid-day trading on Thursday, hitting $91.39. 52,518 shares of the company traded hands, compared to its average volume of 419,229. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $5.18 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The business has a 50 day moving average of $92.01 and a 200 day moving average of $97.00.

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. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The company had revenue of $657.20 million for the quarter, compared to the consensus estimate of $655.80 million. Equities research analysts anticipate that Knife River Co. will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

KNF has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of Knife River in a research note on Monday, March 10th. They issued an "overweight" rating and a $102.00 price objective for the company. Stephens reaffirmed an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target 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.