Knife River Co. (NYSE:KNF) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its position in shares of Knife River Co. (NYSE:KNF) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,340 shares of the company’s stock after selling 6,166 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Knife River worth $3,040,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Knife River by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock worth $400,004,000 after purchasing an additional 503,892 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Knife River by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,398,360 shares of the company’s stock worth $92,546,000 after acquiring an additional 199,389 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Knife River by 48.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock worth $76,138,000 after acquiring an additional 373,359 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Knife River by 122.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after acquiring an additional 450,574 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Knife River in the fourth quarter worth approximately $40,548,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Knife River Trading Up 2.4 %

KNF opened at $83.99 on Monday. The firm has a market capitalization of $4.75 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.92 and a beta of 0.81. The firm’s 50 day moving average is $76.26 and its 200-day moving average is $75.42. Knife River Co. has a 52-week low of $46.51 and a 52-week high of $84.52. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. Analysts expect that Knife River Co. will post 3.72 EPS for the current fiscal year.

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.