Sterling Capital Management LLC Lowers Stake in Knife River Corporation $KNF

Sterling Capital Management LLC cut its stake in Knife River Corporation (NYSE:KNF) by 44.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,054 shares of the company’s stock after selling 8,066 shares during the period. Sterling Capital Management LLC’s holdings in Knife River were worth $821,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. McMillan Office Inc. bought a new stake in Knife River during the fourth quarter worth about $36,000. Hantz Financial Services Inc. increased its position in shares of Knife River by 66.3% during the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock valued at $40,000 after purchasing an additional 226 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Knife River by 1,088.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock valued at $42,000 after purchasing an additional 544 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Knife River by 34.8% during the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after buying an additional 177 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Knife River by 198.5% during the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock valued at $57,000 after buying an additional 536 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

KNF has been the subject of several research reports. Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada decreased their price target on shares of Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research note on Tuesday. Oppenheimer started coverage on shares of Knife River in a report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their target price on shares of Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average price target of $97.00.

Knife River Price Performance

Shares of Knife River stock opened at $82.94 on Thursday. The firm has a market cap of $4.71 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.40. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $96.28. The company has a quick ratio of 1.31, a current ratio of 2.67 and a debt-to-equity ratio of 0.91. The company’s fifty day simple moving average is $82.07 and its two-hundred day simple moving average is $80.56.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.02. The firm had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.21) earnings per share. As a group, equities analysts expect that Knife River Corporation will post 3.32 EPS for the current year.

Knife River Profile

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.