Knife River Corporation $KNF Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Knife River Corporation (NYSE:KNF) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,906 shares of the company’s stock after purchasing an additional 24,287 shares during the period. Principal Financial Group Inc. owned approximately 0.32% of Knife River worth $13,906,000 as of its most recent SEC filing.

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

Knife River Price Performance

Shares of NYSE KNF opened at $79.61 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.39 and a quick ratio of 1.47. The firm has a market capitalization of $4.51 billion, a PE ratio of 30.50, a P/E/G ratio of 1.32 and a beta of 0.47. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $105.99. The business’s fifty day moving average price is $75.17 and its two-hundred day moving average price is $75.37.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KNF shares. B. Riley Financial assumed coverage on shares of Knife River in a research report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price objective for the company. Royal Bank Of Canada cut their price target on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company reduced their price target on Knife River from $81.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. JPMorgan Chase & Co. assumed coverage on Knife River in a report on Thursday, December 4th. They set a “neutral” rating and a $83.00 price objective on the stock. Finally, Wall Street Zen raised Knife River from a “sell” rating to a “hold” rating in a research report on Saturday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.71.

Knife River 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.