California Public Employees Retirement System Decreases Stake in Knife River Co. (NYSE:KNF)

California Public Employees Retirement System trimmed its position in shares of Knife River Co. (NYSE:KNF) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,180 shares of the company’s stock after selling 6,118 shares during the period. California Public Employees Retirement System owned about 0.16% of Knife River worth $9,166,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Knife River by 1,200.8% in the 4th quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock valued at $90,224,000 after purchasing an additional 819,439 shares during the last quarter. Norges Bank acquired a new position in shares of Knife River during the fourth quarter worth $66,631,000. Raymond James Financial Inc. purchased a new position in Knife River in the fourth quarter valued at $14,600,000. Segall Bryant & Hamill LLC acquired a new stake in Knife River in the fourth quarter valued at $12,786,000. Finally, Barclays PLC lifted its holdings in Knife River by 156.2% during the 3rd quarter. Barclays PLC now owns 170,101 shares of the company’s stock worth $15,205,000 after buying an additional 103,713 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stephens reiterated an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Oppenheimer upped their price target on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company started coverage on shares of Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $110.40.

Knife River Stock Down 7.3 %

Knife River stock opened at $83.98 on Monday. The company has a market capitalization of $4.75 billion, a P/E ratio of 23.72, a PEG ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. Knife River Co. has a fifty-two week low of $66.13 and a fifty-two week high of $108.83. The stock has a 50-day simple moving average of $95.77 and a 200-day simple moving average of $97.14.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to analysts’ expectations of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. Equities research analysts expect that Knife River Co. will post 4.11 earnings per share for the current year.

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.