Geode Capital Management LLC Buys 9,125 Shares of Knife River Corporation $KNF

Geode Capital Management LLC increased its stake in Knife River Corporation (NYSE:KNF) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,417,408 shares of the company’s stock after purchasing an additional 9,125 shares during the quarter. Geode Capital Management LLC owned approximately 2.50% of Knife River worth $99,730,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Hantz Financial Services Inc. raised its holdings in shares of Knife River by 66.3% in the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after purchasing an additional 226 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Knife River by 58.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $66,000 after purchasing an additional 345 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Knife River by 49.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 329,460 shares of the company’s stock worth $23,178,000 after purchasing an additional 108,948 shares during the period. Larson Financial Group LLC raised its holdings in shares of Knife River by 198.5% in the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock worth $57,000 after purchasing an additional 536 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Knife River by 4.4% in the 4th quarter. ProShare Advisors LLC now owns 12,728 shares of the company’s stock worth $895,000 after purchasing an additional 533 shares during the period. Institutional investors own 80.11% of the company’s stock.

Knife River Trading Down 3.3%

Shares of KNF opened at $74.12 on Friday. The business’s 50-day moving average price is $81.81 and its 200-day moving average price is $79.27. Knife River Corporation has a twelve month low of $58.72 and a twelve month high of $95.29. The stock has a market cap of $4.21 billion, a PE ratio of 28.84, a P/E/G ratio of 1.33 and a beta of 0.40. The company has a quick ratio of 1.31, a current ratio of 2.67 and a debt-to-equity ratio of 0.91.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Knife River from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Stephens lifted their target price on shares of Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Oppenheimer initiated coverage on shares of Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Knife River from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 15th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.29.

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.