FORA Capital LLC Acquires 5,681 Shares of Knife River Co. (NYSE:KNF)

FORA Capital LLC lifted its holdings in shares of Knife River Co. (NYSE:KNF) by 88.9% during the 3rd quarter, Holdings Channel reports. The firm owned 12,074 shares of the company’s stock after purchasing an additional 5,681 shares during the period. FORA Capital LLC’s holdings in Knife River were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KNF. Price T Rowe Associates Inc. MD increased its holdings in shares of Knife River by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,954 shares of the company’s stock worth $2,591,000 after purchasing an additional 2,194 shares during the period. Public Employees Retirement System of Ohio increased its stake in Knife River by 3.1% in the first quarter. Public Employees Retirement System of Ohio now owns 13,026 shares of the company’s stock valued at $1,056,000 after acquiring an additional 395 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Knife River by 2.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 26,596 shares of the company’s stock valued at $2,156,000 after acquiring an additional 583 shares during the last quarter. Tidal Investments LLC increased its stake in Knife River by 78.3% in the first quarter. Tidal Investments LLC now owns 6,212 shares of the company’s stock valued at $504,000 after acquiring an additional 2,728 shares during the last quarter. Finally, Comerica Bank increased its stake in Knife River by 59.2% in the first quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after acquiring an additional 15,848 shares during the last quarter. 80.11% of the stock is owned by institutional investors.

Knife River Stock Performance

Shares of Knife River stock opened at $102.73 on Thursday. Knife River Co. has a fifty-two week low of $58.92 and a fifty-two week high of $105.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. The firm has a market capitalization of $5.82 billion, a P/E ratio of 29.43, a P/E/G ratio of 2.80 and a beta of 0.74. The company’s 50 day moving average price is $93.92 and its two-hundred day moving average price is $81.23.

Knife River (NYSE:KNF) last issued its earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $2.58 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts forecast that Knife River Co. will post 3.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KNF shares. DA Davidson lifted their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer lifted their price objective on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Loop Capital decreased their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.67.

Knife River Company Profile

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.