Principal Financial Group Inc. Has $14.75 Million Stake in Kodiak Gas Services, Inc. $KGS

Principal Financial Group Inc. grew its position in Kodiak Gas Services, Inc. (NYSE:KGS) by 492.8% in the third quarter, HoldingsChannel.com reports. The fund owned 399,041 shares of the company’s stock after buying an additional 331,732 shares during the quarter. Principal Financial Group Inc.’s holdings in Kodiak Gas Services were worth $14,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Thrivent Financial for Lutherans grew its position in Kodiak Gas Services by 107.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 63,532 shares of the company’s stock worth $2,348,000 after acquiring an additional 32,927 shares during the last quarter. Fourth Dimension Wealth LLC boosted its stake in Kodiak Gas Services by 54.0% in the third quarter. Fourth Dimension Wealth LLC now owns 7,139 shares of the company’s stock worth $264,000 after purchasing an additional 2,503 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Kodiak Gas Services by 33.2% during the third quarter. Arizona State Retirement System now owns 20,516 shares of the company’s stock worth $758,000 after purchasing an additional 5,119 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Kodiak Gas Services by 395.1% in the third quarter. New York State Common Retirement Fund now owns 84,838 shares of the company’s stock valued at $3,136,000 after buying an additional 67,704 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Kodiak Gas Services in the third quarter valued at $273,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KGS shares. Mizuho upped their price target on shares of Kodiak Gas Services from $36.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Barclays upped their target price on shares of Kodiak Gas Services from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup increased their price target on shares of Kodiak Gas Services from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Kodiak Gas Services in a research report on Monday, December 29th. Finally, Royal Bank Of Canada upped their price objective on Kodiak Gas Services from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Kodiak Gas Services Trading Up 2.4%

Shares of NYSE KGS opened at $51.12 on Tuesday. Kodiak Gas Services, Inc. has a fifty-two week low of $29.25 and a fifty-two week high of $51.59. The firm has a market capitalization of $4.43 billion, a P/E ratio of 63.90 and a beta of 1.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.69. The company’s 50 day simple moving average is $38.39 and its 200 day simple moving average is $35.87.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 13th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.8%. Kodiak Gas Services’s dividend payout ratio is 245.00%.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.