Knife River Co. (NYSE:KNF) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in Knife River Co. (NYSE:KNF) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,821 shares of the company’s stock after buying an additional 888 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Knife River were worth $11,158,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after acquiring an additional 176 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Knife River by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock valued at $5,759,000 after purchasing an additional 185 shares during the period. LVW Advisors LLC grew its stake in Knife River by 3.3% during the 3rd quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock worth $539,000 after buying an additional 195 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in Knife River by 1.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock worth $1,418,000 after buying an additional 206 shares during the last quarter. Finally, Patten Group Inc. lifted its stake in Knife River by 2.4% in the third quarter. Patten Group Inc. now owns 9,881 shares of the company’s stock valued at $883,000 after buying an additional 228 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer raised their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.60.

Knife River Stock Up 1.0 %

Knife River stock opened at $93.55 on Friday. The stock has a 50 day moving average of $85.06 and a two-hundred day moving average of $78.09. Knife River Co. has a twelve month low of $46.51 and a twelve month high of $95.85. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.26 and a beta of 0.82. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The firm had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. Knife River’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. As a group, research analysts expect that Knife River Co. will post 3.72 earnings per share for the current year.

Knife River 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.