US Bancorp DE Cuts Holdings in Knife River Corporation $KNF

US Bancorp DE reduced its holdings in Knife River Corporation (NYSE:KNF) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,257 shares of the company’s stock after selling 11,030 shares during the quarter. US Bancorp DE owned about 0.73% of Knife River worth $31,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its position in shares of Knife River by 141.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Country Trust Bank purchased a new stake in Knife River during the second quarter worth about $40,000. Quent Capital LLC purchased a new position in Knife River in the third quarter valued at about $47,000. GHP Investment Advisors Inc. purchased a new position in Knife River in the second quarter valued at about $48,000. Finally, Huntington National Bank lifted its position in shares of Knife River by 35.5% during the 2nd quarter. Huntington National Bank now owns 703 shares of the company’s stock valued at $57,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Price Performance

Knife River stock opened at $88.93 on Friday. The stock has a market capitalization of $5.04 billion, a P/E ratio of 32.22, a P/E/G ratio of 2.06 and a beta of 0.47. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $103.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.54 and a quick ratio of 1.39. The firm’s 50-day moving average is $78.18 and its two-hundred day moving average is $75.69.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, February 17th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The firm had revenue of $755.06 million for the quarter, compared to analyst estimates of $726.60 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. Knife River’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. Equities analysts predict that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KNF. JPMorgan Chase & Co. initiated coverage on Knife River in a report on Thursday, December 4th. They set a “neutral” rating and a $83.00 price objective for the company. Royal Bank Of Canada lifted their price target on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. UBS Group upgraded shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Wells Fargo & Company downgraded shares of Knife River from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $75.00 to $81.00 in a report on Wednesday, February 18th. Finally, B. Riley Financial assumed coverage on shares of Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and a consensus price target of $96.43.

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.