Hancock Whitney Corp Takes Position in Knife River Co. (NYSE:KNF)

Hancock Whitney Corp bought a new position in shares of Knife River Co. (NYSE:KNF) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,157 shares of the company’s stock, valued at approximately $1,087,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KNF. Swedbank AB purchased a new position in shares of Knife River in the 1st quarter valued at about $9,730,000. Bayesian Capital Management LP acquired a new position in shares of Knife River during the 1st quarter worth approximately $687,000. Comerica Bank lifted its position 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 buying an additional 15,848 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Knife River by 311.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock valued at $1,009,000 after acquiring an additional 10,886 shares during the period. Finally, Ausbil Investment Management Ltd increased its holdings in Knife River by 599.5% in the 3rd quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock worth $1,750,000 after acquiring an additional 16,780 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Knife River Stock Performance

NYSE KNF opened at $104.62 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. Knife River Co. has a fifty-two week low of $58.31 and a fifty-two week high of $105.44. The stock’s fifty day moving average is $93.66 and its two-hundred day moving average is $81.08. The firm has a market capitalization of $5.92 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 2.76 and a beta of 0.74.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22). The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company earned $2.58 EPS. On average, research analysts anticipate that Knife River Co. will post 3.57 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.