Moors & Cabot Inc. Has $1.19 Million Position in Knife River Co. (NYSE:KNF)

Moors & Cabot Inc. lessened its stake in shares of Knife River Co. (NYSE:KNF) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,995 shares of the company’s stock after selling 600 shares during the period. Moors & Cabot Inc.’s holdings in Knife River were worth $1,192,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Knife River by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after purchasing an additional 503,892 shares during the period. 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 valued at $92,546,000 after acquiring an additional 199,389 shares during the period. Gilder Gagnon Howe & Co. LLC grew its stake 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. increased its position in Knife River by 122.2% during 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 period. Finally, Norges Bank bought a new stake in Knife River in the 4th quarter valued at $40,548,000. Institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

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

Knife River Stock Performance

Shares of NYSE KNF opened at $89.31 on Thursday. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.92 and a beta of 0.81. Knife River Co. has a one year low of $46.51 and a one year high of $91.50. The business has a fifty day simple moving average of $77.28 and a 200 day simple moving average of $75.71. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $806.90 million during the quarter, compared to the consensus estimate of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. Sell-side analysts expect that Knife River Co. will post 3.72 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.