Geode Capital Management LLC Purchases 9,125 Shares of Knife River Corporation $KNF

Geode Capital Management LLC raised its position in Knife River Corporation (NYSE:KNF) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,417,408 shares of the company’s stock after purchasing an additional 9,125 shares during the period. Geode Capital Management LLC’s holdings in Knife River were worth $99,730,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Clear Creek Financial Management LLC boosted its holdings in Knife River by 103.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 15,486 shares of the company’s stock valued at $1,190,000 after purchasing an additional 7,866 shares during the period. Paradice Investment Management LLC bought a new position in Knife River in the 4th quarter valued at $22,001,000. Voss Capital LP bought a new position in Knife River in the 3rd quarter valued at $33,823,000. Thrivent Financial for Lutherans boosted its holdings in Knife River by 21.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 81,315 shares of the company’s stock valued at $6,250,000 after purchasing an additional 14,253 shares during the period. Finally, Hunter Associates Investment Management LLC raised its position in shares of Knife River by 184.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 36,659 shares of the company’s stock valued at $2,586,000 after buying an additional 23,764 shares in the last quarter. 80.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on KNF. Weiss Ratings upgraded shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Oppenheimer initiated coverage on shares of Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. DA Davidson upped their target price on shares of Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Royal Bank Of Canada upped their target price on shares of Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.29.

Knife River Price Performance

Shares of NYSE:KNF opened at $74.12 on Friday. The stock has a market cap of $4.21 billion, a PE ratio of 28.84, a PEG ratio of 1.33 and a beta of 0.40. The company’s fifty day moving average is $81.81 and its 200 day moving average is $79.27. Knife River Corporation has a 52 week low of $58.72 and a 52 week high of $95.29. The company has a quick ratio of 1.31, a current ratio of 2.67 and a debt-to-equity ratio of 0.91.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.02. The company had revenue of $410.13 million for the quarter, compared to analysts’ expectations of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.21) EPS. Research analysts anticipate that Knife River Corporation will post 3.32 earnings per share for the current year.

Knife River Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.