Knife River Co. (NYSE:KNF) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of Knife River Co. (NYSE:KNF) by 1.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,000 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Knife River were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC lifted its position in Knife River by 38,250.0% during the fourth quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after purchasing an additional 765 shares during the period. Horan Capital Advisors LLC. acquired a new position in Knife River during the first quarter valued at $203,000. Koshinski Asset Management Inc. acquired a new position in Knife River during the first quarter valued at $206,000. Grimes & Company Inc. acquired a new position in Knife River during the first quarter valued at $216,000. Finally, Legacy Wealth Asset Management LLC acquired a new position in Knife River during the first quarter valued at $230,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Stephens began coverage on shares of Knife River in a report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Knife River currently has a consensus rating of “Moderate Buy” and an average target price of $81.60.

Knife River Stock Down 0.7 %

KNF opened at $78.91 on Tuesday. Knife River Co. has a fifty-two week low of $46.51 and a fifty-two week high of $83.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.75. The company has a fifty day moving average of $74.21 and a two-hundred day moving average of $74.69. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.89 and a beta of 0.83.

Knife River (NYSE:KNF) last released its earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. The business had revenue of $806.90 million during the quarter, compared to analysts’ expectations of $803.81 million. Knife River had a net margin of 6.19% and a return on equity of 14.65%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 earnings per share. On average, research analysts expect that Knife River Co. will post 3.51 earnings per share for the current year.

Knife River Profile

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.