Geode Capital Management LLC Sells 4,832 Shares of Knife River Co. (NYSE:KNF)

Geode Capital Management LLC decreased its position in Knife River Co. (NYSE:KNF) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,332,441 shares of the company’s stock after selling 4,832 shares during the period. Geode Capital Management LLC’s holdings in Knife River were worth $135,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNF. Alliancebernstein L.P. boosted its stake in shares of Knife River by 830.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock valued at $111,965,000 after purchasing an additional 983,223 shares during the last quarter. American Century Companies Inc. lifted its holdings in Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock valued at $90,224,000 after buying an additional 819,439 shares during the period. Norges Bank acquired a new position in Knife River in the fourth quarter valued at approximately $66,631,000. Raymond James Financial Inc. bought a new position in Knife River in the fourth quarter valued at approximately $14,600,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Knife River during the 4th quarter worth $12,786,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Price Performance

KNF opened at $84.46 on Tuesday. The stock has a market cap of $4.78 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.36 and a beta of 0.97. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $95.46 and a 200 day simple moving average of $97.09.

Knife River (NYSE:KNF) last announced 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. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. On average, research analysts expect that Knife River Co. will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

KNF has been the topic of a number of analyst reports. Oppenheimer increased their price target on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Wells Fargo & Company began coverage on Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 target price on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Knife River in a research note on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $110.40.

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.