16,400 Shares in Knife River Corporation $KNF Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of Knife River Corporation (NYSE:KNF) in the first quarter, Holdings Channel.com reports. The fund acquired 16,400 shares of the company’s stock, valued at approximately $1,339,000.

A number of other hedge funds also recently bought and sold shares of KNF. McMillan Office Inc. purchased a new stake in shares of Knife River in the 4th quarter valued at approximately $36,000. Hantz Financial Services Inc. grew its position in Knife River by 66.3% during the fourth quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock valued at $40,000 after purchasing an additional 226 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Knife River by 1,088.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock valued at $42,000 after purchasing an additional 544 shares in the last quarter. GAMMA Investing LLC increased its stake in Knife River by 34.8% in the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after buying an additional 177 shares during the period. Finally, Larson Financial Group LLC lifted its position in Knife River by 198.5% in the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock worth $57,000 after buying an additional 536 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Stock Performance

NYSE KNF opened at $84.80 on Friday. The company has a 50 day moving average of $82.00 and a 200-day moving average of $80.62. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $96.28. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.48 and a beta of 0.37. The company has a current ratio of 2.67, a quick ratio of 1.31 and a debt-to-equity ratio of 0.91.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KNF shares. JPMorgan Chase & Co. lifted their target price on shares of Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lowered their target price on shares of Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their price target on Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, April 15th. Oppenheimer began coverage on Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, Weiss Ratings raised shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Knife River Company 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.