Goldman Sachs Group Inc. Has $54.22 Million Stake in Knife River Co. (NYSE:KNF)

Goldman Sachs Group Inc. grew its stake in Knife River Co. (NYSE:KNF) by 122.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 819,296 shares of the company’s stock after buying an additional 450,574 shares during the period. Goldman Sachs Group Inc. owned approximately 1.45% of Knife River worth $54,221,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. American International Group Inc. boosted its position in Knife River by 4.6% during the fourth quarter. American International Group Inc. now owns 104,088 shares of the company’s stock worth $6,889,000 after purchasing an additional 4,531 shares during the period. Bluefin Capital Management LLC bought a new stake in shares of Knife River during the 4th quarter worth $306,000. Oracle Alpha Inc. bought a new position in Knife River in the 4th quarter worth $394,000. Penn Capital Management Company LLC lifted its position in Knife River by 29.2% during the 4th quarter. Penn Capital Management Company LLC now owns 227,221 shares of the company’s stock worth $15,092,000 after acquiring an additional 51,356 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Knife River by 48.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock valued at $76,138,000 after acquiring an additional 373,359 shares during the period. Institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stephens initiated coverage on Knife River in a research report on Tuesday. They set an “overweight” rating and a $85.00 price objective for the company. Oppenheimer upped their price target on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Wolfe Research began coverage on Knife River in a report on Friday, March 8th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Knife River currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Knife River Stock Up 1.4 %

KNF opened at $71.45 on Wednesday. Knife River Co. has a fifty-two week low of $41.53 and a fifty-two week high of $83.78. The company has a market capitalization of $4.04 billion and a P/E ratio of 23.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.75 and a quick ratio of 1.49. The firm’s fifty day moving average price is $74.67 and its two-hundred day moving average price is $71.35.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The business had revenue of $329.60 million during the quarter, compared to analyst estimates of $300.98 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned ($516.50) EPS. On average, analysts anticipate that Knife River Co. will post 3.52 EPS for the current year.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.