New York State Common Retirement Fund Grows Stock Holdings in Knife River Corporation $KNF

New York State Common Retirement Fund lifted its stake in Knife River Corporation (NYSE:KNF) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,122 shares of the company’s stock after purchasing an additional 21,453 shares during the quarter. New York State Common Retirement Fund owned about 0.26% of Knife River worth $11,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KNF. Baillie Gifford & Co. purchased a new stake in Knife River during the third quarter valued at $169,020,000. State Street Corp increased 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 valued at $171,542,000 after purchasing an additional 12,308 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Knife River by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock worth $113,960,000 after purchasing an additional 15,464 shares during the period. Invesco Ltd. boosted its holdings in shares of Knife River by 2.9% in the second quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock worth $103,914,000 after buying an additional 35,900 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Knife River by 30.1% during the second quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock valued at $64,311,000 after buying an additional 182,462 shares during the period. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Up 5.4%

NYSE KNF opened at $72.89 on Wednesday. The stock has a 50 day moving average price of $74.75 and a 200-day moving average price of $75.49. Knife River Corporation has a one year low of $58.72 and a one year high of $105.99. The company has a market capitalization of $4.13 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.16 and a beta of 0.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.45 by $0.07. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. As a group, equities analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

KNF has been the topic of several research analyst reports. Royal Bank Of Canada lowered their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Wells Fargo & Company dropped their price target on Knife River from $81.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. UBS Group upgraded shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. B. Riley began coverage on shares of Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Knife River has a consensus rating of “Moderate Buy” and an average target price of $95.71.

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.