Segall Bryant & Hamill LLC Sells 63,856 Shares of Knife River Corporation $KNF

Segall Bryant & Hamill LLC cut its holdings in Knife River Corporation (NYSE:KNF) by 43.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 83,865 shares of the company’s stock after selling 63,856 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Knife River were worth $6,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. bought a new position in shares of Knife River in the third quarter worth about $169,020,000. Norges Bank bought a new stake in shares of Knife River during the 2nd quarter valued at approximately $53,260,000. Ameriprise Financial Inc. increased its position in Knife River by 30.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after purchasing an additional 182,462 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Knife River by 71.0% in the 2nd quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock valued at $28,971,000 after purchasing an additional 147,387 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Knife River by 27.2% in the second quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock valued at $55,998,000 after buying an additional 146,782 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 1.0%

Shares of NYSE:KNF opened at $87.58 on Thursday. The firm has a market cap of $4.96 billion, a P/E ratio of 31.73, a P/E/G ratio of 2.04 and a beta of 0.27. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $103.18. The business has a fifty day simple moving average of $79.05 and a 200 day simple moving average of $75.49. 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 (NYSE:KNF) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The firm had revenue of $755.06 million for the quarter, compared to analyst estimates of $726.60 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Analysts predict that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on KNF shares. Wells Fargo & Company cut shares of Knife River from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $75.00 to $81.00 in a research note on Wednesday, February 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Thursday, January 22nd. JPMorgan Chase & Co. began coverage on Knife River in a report on Thursday, December 4th. They issued a “neutral” rating and a $83.00 target price for the company. Stephens increased their target price on Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Knife River from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

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.