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

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of KNF. State Street Corp boosted its position in shares of Knife River by 0.6% during the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company’s stock worth $171,542,000 after purchasing an additional 12,308 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Knife River by 57.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock valued at $124,821,000 after purchasing an additional 648,979 shares during the period. Geode Capital Management LLC lifted its stake in shares of Knife River by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company’s stock valued at $99,730,000 after purchasing an additional 9,125 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Knife River by 11.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,391,662 shares of the company’s stock worth $97,909,000 after buying an additional 144,176 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Knife River during the fourth quarter worth about $71,166,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

KNF has been the subject of a number of research analyst reports. Stephens increased their target price on shares of Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Wells Fargo & Company dropped their price target on Knife River from $81.00 to $80.00 and set an “underweight” rating for the company in a research report on Wednesday, April 15th. Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Oppenheimer started coverage on shares of Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective 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. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.29.

Knife River Trading Up 5.0%

Shares of Knife River stock opened at $80.80 on Tuesday. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $95.29. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31. The business has a 50 day moving average price of $81.22 and a 200 day moving average price of $79.57. The company 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.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating 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 firm had revenue of $410.13 million for the quarter, compared to analysts’ expectations of $387.06 million. During the same quarter in the prior year, the firm earned ($1.21) EPS. Knife River’s quarterly revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Knife River Corporation will post 3.32 EPS for the current fiscal year.

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.