Swiss National Bank Grows Position in Knife River Co. (NYSE:KNF)

Swiss National Bank raised its holdings in shares of Knife River Co. (NYSE:KNF) by 0.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 105,798 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Swiss National Bank’s holdings in Knife River were worth $10,753,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KNF. State Street Corp grew its holdings in shares of Knife River by 1.8% in the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after purchasing an additional 34,646 shares during the period. Geode Capital Management LLC grew its holdings in shares of Knife River by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock valued at $119,561,000 after purchasing an additional 26,198 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Knife River by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after purchasing an additional 5,791 shares during the period. Congress Asset Management Co. grew its holdings in shares of Knife River by 2.5% in the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock valued at $70,766,000 after purchasing an additional 16,698 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Knife River by 2.1% in the third quarter. Loomis Sayles & Co. L P now owns 660,225 shares of the company’s stock valued at $59,017,000 after purchasing an additional 13,490 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on KNF shares. Stephens reissued 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 objective on shares of 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 began coverage on shares of Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $110.40.

Knife River Trading Down 5.0 %

NYSE KNF opened at $90.78 on Friday. The firm’s 50-day moving average is $98.01 and its two-hundred day moving average is $95.96. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a market capitalization of $5.14 billion, a P/E ratio of 25.64, a PEG ratio of 2.36 and a beta of 0.88.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. On average, sell-side analysts anticipate that Knife River Co. will post 4.11 earnings per share for the current year.

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.