Public Employees Retirement Association of Colorado Reduces Stake in Knife River Corporation $KNF

Public Employees Retirement Association of Colorado lessened its holdings in shares of Knife River Corporation (NYSE:KNF) by 25.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,008 shares of the company’s stock after selling 43,400 shares during the period. Public Employees Retirement Association of Colorado owned 0.23% of Knife River worth $9,005,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KNF. Mariner LLC raised its holdings in Knife River by 72.3% during the fourth quarter. Mariner LLC now owns 11,184 shares of the company’s stock worth $786,000 after purchasing an additional 4,693 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Knife River in the 4th quarter valued at $273,000. Barclays PLC grew its position in shares of Knife River by 67.0% in the 4th quarter. Barclays PLC now owns 222,303 shares of the company’s stock valued at $15,639,000 after buying an additional 89,179 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Knife River during the 4th quarter worth $184,000. Finally, Meixler Investment Management Ltd. raised its stake in Knife River by 44.6% during the 4th quarter. Meixler Investment Management Ltd. now owns 30,262 shares of the company’s stock worth $2,129,000 after acquiring an additional 9,332 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of KNF opened at $80.80 on Tuesday. The stock has a market capitalization of $4.59 billion, a P/E ratio of 31.44, a P/E/G ratio of 1.38 and a beta of 0.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $95.29. The company’s fifty day moving average is $81.22 and its two-hundred day moving average is $79.57.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.02. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The business had revenue of $410.13 million for the quarter, compared to the consensus estimate of $387.06 million. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts predict that Knife River Corporation will post 3.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KNF shares. Wall Street Zen upgraded shares of Knife River from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings upgraded Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Oppenheimer started coverage on Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. Royal Bank Of Canada raised their price target on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, Stephens lifted their price target on Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.29.

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.