Allspring Global Investments Holdings LLC Purchases 928 Shares of Knife River Co. (NYSE:KNF)

Allspring Global Investments Holdings LLC grew its holdings in shares of Knife River Co. (NYSE:KNF) by 0.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 123,933 shares of the company’s stock after buying an additional 928 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Knife River were worth $8,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. TFO Wealth Partners LLC boosted its holdings in Knife River by 38,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after acquiring an additional 765 shares during the period. Horan Capital Advisors LLC. purchased a new stake in shares of Knife River during the first quarter valued at $203,000. Koshinski Asset Management Inc. bought a new position in shares of Knife River in the first quarter worth about $206,000. CWM LLC increased its stake in Knife River by 57.5% in the 4th quarter. CWM LLC now owns 3,128 shares of the company’s stock worth $207,000 after buying an additional 1,142 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in Knife River during the 4th quarter valued at about $211,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Performance

KNF stock opened at $78.89 on Friday. Knife River Co. has a 1-year low of $46.51 and a 1-year high of $83.78. The business has a 50-day moving average price of $74.81 and a 200 day moving average price of $74.85. The company has a market capitalization of $4.47 billion, a P/E ratio of 25.45, a PEG ratio of 2.89 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.75 and a quick ratio of 1.49.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Knife River had a net margin of 6.19% and a return on equity of 14.65%. The business had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Knife River Co. will post 3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Knife River Company 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.