Cerity Partners LLC Boosts Stake in Knife River Co. (NYSE:KNF)

Cerity Partners LLC lifted its holdings in shares of Knife River Co. (NYSE:KNF) by 24.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,487 shares of the company’s stock after buying an additional 5,004 shares during the period. Cerity Partners LLC’s holdings in Knife River were worth $2,278,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KNF. Comerica Bank boosted its holdings in shares of Knife River by 59.2% during the 1st 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. Harbor Capital Advisors Inc. lifted its position in Knife River by 311.5% during the second quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock valued at $1,009,000 after purchasing an additional 10,886 shares during the period. Ausbil Investment Management Ltd boosted its holdings in Knife River by 599.5% in the third quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock worth $1,750,000 after purchasing an additional 16,780 shares during the last quarter. Chesapeake Capital Corp IL bought a new stake in Knife River in the 3rd quarter worth approximately $567,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Knife River by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after buying an additional 5,791 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Performance

NYSE:KNF opened at $103.50 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The stock has a 50-day simple moving average of $94.40 and a two-hundred day simple moving average of $81.61. The firm has a market capitalization of $5.86 billion, a PE ratio of 29.66, a P/E/G ratio of 2.78 and a beta of 0.74. Knife River Co. has a 52-week low of $58.92 and a 52-week high of $105.63.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $2.58 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. Analysts forecast that Knife River Co. will post 3.57 EPS for the current year.

Wall Street Analyst Weigh In

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

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.