Knife River Co. (NYSE:KNF) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Knife River Co. (NYSE:KNF) by 2.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,337,273 shares of the company’s stock after acquiring an additional 26,198 shares during the quarter. Geode Capital Management LLC owned 2.36% of Knife River worth $119,561,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in KNF. Angeles Wealth Management LLC increased its stake in shares of Knife River by 1.5% during the third quarter. Angeles Wealth Management LLC now owns 8,500 shares of the company’s stock worth $760,000 after purchasing an additional 125 shares in the last quarter. Sittner & Nelson LLC raised its holdings in shares of Knife River by 18.5% during the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after acquiring an additional 150 shares during the last quarter. Covestor Ltd lifted its position in shares of Knife River by 13.2% in the third quarter. Covestor Ltd now owns 1,288 shares of the company’s stock valued at $115,000 after acquiring an additional 150 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after acquiring an additional 176 shares during the last quarter. Finally, LVW Advisors LLC increased its position in shares of Knife River by 3.3% during the third quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock worth $539,000 after purchasing an additional 195 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

Knife River stock opened at $104.89 on Wednesday. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 2.90 and a beta of 0.70. 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 50 day simple moving average of $98.07 and a 200-day simple moving average of $84.31. Knife River Co. has a 1-year low of $61.50 and a 1-year high of $107.96.

Knife River (NYSE:KNF) last posted its earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $2.58 EPS. Knife River’s revenue was up 1.4% compared to the same quarter last year. On average, analysts expect that Knife River Co. will post 3.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KNF. Loop Capital decreased their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. DA Davidson boosted their price target on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer raised their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.33.

About Knife River

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.