Knife River Corporation $KNF Shares Bought by Mairs & Power Inc.

Mairs & Power Inc. grew its stake in Knife River Corporation (NYSE:KNF) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,045 shares of the company’s stock after purchasing an additional 8,129 shares during the period. Mairs & Power Inc.’s holdings in Knife River were worth $9,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moors & Cabot Inc. lifted its stake in shares of Knife River by 2.0% in the 3rd quarter. Moors & Cabot Inc. now owns 14,113 shares of the company’s stock valued at $1,085,000 after purchasing an additional 275 shares during the period. Millennium Management LLC acquired a new stake in Knife River during the third quarter valued at $2,536,000. California Public Employees Retirement System increased its holdings in Knife River by 5.1% in the third quarter. California Public Employees Retirement System now owns 74,396 shares of the company’s stock valued at $5,719,000 after buying an additional 3,607 shares in the last quarter. Bank of America Corp DE increased its holdings in Knife River by 19.7% in the third quarter. Bank of America Corp DE now owns 264,204 shares of the company’s stock valued at $20,309,000 after buying an additional 43,523 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of Knife River by 3.8% in the third quarter. Raymond James Financial Inc. now owns 368,458 shares of the company’s stock worth $28,323,000 after acquiring an additional 13,598 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KNF shares. Wall Street Zen upgraded Knife River from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. B. Riley Financial started coverage on Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price target for the company. DA Davidson increased their price target on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their target price on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.43.

Knife River Price Performance

Knife River stock opened at $80.79 on Tuesday. The company has a fifty day simple moving average of $80.36 and a 200-day simple moving average of $75.00. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 1.77 and a beta of 0.26. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $103.18.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. The firm had revenue of $755.06 million for the quarter, compared to the consensus estimate of $726.60 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. On average, equities analysts anticipate that Knife River Corporation will post 4.11 EPS for the current fiscal year.

About Knife River

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.