Knife River Corporation $KNF Shares Acquired by Mairs & Power Inc.

Mairs & Power Inc. grew its holdings in shares of Knife River Corporation (NYSE:KNF) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,045 shares of the company’s stock after purchasing an additional 8,129 shares during the period. Mairs & Power Inc. owned approximately 0.22% of Knife River worth $9,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KNF. Baillie Gifford & Co. purchased a new stake in shares of Knife River during the third quarter worth about $169,020,000. State Street Corp raised its position in shares of Knife River by 0.6% in the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company’s stock valued at $171,542,000 after purchasing an additional 12,308 shares during the last quarter. Geode Capital Management LLC boosted its stake in Knife River by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock worth $113,960,000 after purchasing an additional 15,464 shares in the last quarter. Invesco Ltd. grew its position in Knife River by 2.9% during the 2nd quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock worth $103,914,000 after purchasing an additional 35,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Knife River by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,247,486 shares of the company’s stock worth $95,880,000 after purchasing an additional 31,560 shares during the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KNF shares. JPMorgan Chase & Co. raised their price target on shares of Knife River from $83.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Zacks Research raised Knife River from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Royal Bank Of Canada raised their target price on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Wells Fargo & Company downgraded Knife River from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $75.00 to $81.00 in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.43.

Knife River Trading Up 3.0%

Shares of Knife River stock opened at $80.79 on Tuesday. The stock has a market cap of $4.58 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.77 and a beta of 0.26. The firm has a fifty day moving average price of $80.36 and a 200 day moving average price of $75.00. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $103.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.54 and a quick ratio of 1.39.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $755.06 million for the quarter, compared to analyst estimates of $726.60 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. Equities research analysts predict that Knife River Corporation will post 4.11 earnings per share for the current year.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.