Lisanti Capital Growth LLC Takes Position in Knife River Co. (NYSE:KNF)

Lisanti Capital Growth LLC bought a new stake in Knife River Co. (NYSE:KNF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 88,020 shares of the company’s stock, valued at approximately $5,825,000. Knife River makes up approximately 1.4% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 18th biggest position. Lisanti Capital Growth LLC owned 0.16% of Knife River at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Knife River by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company’s stock valued at $270,532,000 after acquiring an additional 46,737 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Knife River by 19.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock valued at $54,720,000 after purchasing an additional 184,192 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Knife River by 4.6% in the 3rd quarter. Northern Trust Corp now owns 610,212 shares of the company’s stock worth $29,797,000 after purchasing an additional 26,757 shares during the last quarter. US Bancorp DE increased its position in shares of Knife River by 1.5% during the 3rd quarter. US Bancorp DE now owns 446,710 shares of the company’s stock worth $21,813,000 after purchasing an additional 6,521 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Knife River by 48.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 348,541 shares of the company’s stock valued at $17,019,000 after purchasing an additional 113,575 shares during the last quarter. 80.11% of the stock is owned by institutional investors.

Knife River Trading Up 2.3 %

NYSE:KNF traded up $1.78 during trading hours on Monday, hitting $80.77. 333,873 shares of the stock were exchanged, compared to its average volume of 379,234. The company’s 50 day moving average is $77.78 and its two-hundred day moving average is $67.64. The company has a market capitalization of $4.57 billion and a P/E ratio of -0.16. Knife River Co. has a twelve month low of $33.67 and a twelve month high of $83.78. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The business had revenue of $646.90 million for the quarter, compared to analysts’ expectations of $566.47 million. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Knife River Co. will post 3.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KNF shares. Oppenheimer raised their price objective on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Loop Capital assumed coverage on Knife River in a report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price target for the company. Finally, Wolfe Research initiated coverage on Knife River in a research report on Friday, March 8th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.20.

About Knife River

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.