Oliver Luxxe Assets LLC Cuts Position in Knife River Corporation $KNF

Oliver Luxxe Assets LLC trimmed its position in shares of Knife River Corporation (NYSE:KNF) by 25.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,215 shares of the company’s stock after selling 8,957 shares during the period. Oliver Luxxe Assets LLC’s holdings in Knife River were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KNF. Norges Bank purchased a new stake in Knife River during the second quarter valued at $53,260,000. Ameriprise Financial Inc. raised its position in shares of Knife River by 30.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock valued at $64,311,000 after buying an additional 182,462 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Knife River by 71.0% during the 2nd quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock valued at $28,971,000 after buying an additional 147,387 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Knife River by 27.2% in the 2nd quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock valued at $55,998,000 after acquiring an additional 146,782 shares during the last quarter. Finally, Boston Partners grew its position in Knife River by 60.7% in the second quarter. Boston Partners now owns 383,065 shares of the company’s stock worth $31,518,000 after acquiring an additional 144,680 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Stock Performance

Shares of Knife River stock opened at $79.75 on Friday. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. The stock’s fifty day moving average is $72.89 and its two-hundred day moving average is $76.10. Knife River Corporation has a 52 week low of $58.72 and a 52 week high of $108.83. The company has a market capitalization of $4.52 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. Knife River had a net margin of 4.87% and a return on equity of 9.97%. As a group, analysts expect that Knife River Corporation will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

KNF has been the topic of a number of recent research reports. Royal Bank Of Canada decreased their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Wall Street Zen downgraded Knife River from a “hold” rating to a “sell” rating in a research report on Sunday. Wells Fargo & Company upgraded Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a research report on Tuesday, November 4th. UBS Group upgraded shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Finally, Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.33.

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.