State of New Jersey Common Pension Fund D Cuts Position in Knife River Co. (NYSE:KNF)

State of New Jersey Common Pension Fund D trimmed its position in shares of Knife River Co. (NYSE:KNF) by 32.4% during the second quarter, Holdings Channel reports. The institutional investor owned 26,623 shares of the company’s stock after selling 12,745 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Knife River were worth $1,867,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KNF. International Assets Investment Management LLC purchased a new position in Knife River in the second quarter valued at approximately $39,000. TFO Wealth Partners LLC increased its stake in Knife River by 38,250.0% in 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 last quarter. Horan Capital Advisors LLC. purchased a new position in Knife River in the first quarter valued at approximately $203,000. Koshinski Asset Management Inc. purchased a new position in Knife River in the first quarter valued at approximately $206,000. Finally, ICA Group Wealth Management LLC purchased a new position in Knife River in the fourth quarter valued at approximately $211,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Knife River Price Performance

Shares of NYSE KNF opened at $90.76 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49. The stock has a fifty day moving average price of $77.87 and a 200 day moving average price of $75.94. Knife River Co. has a 1-year low of $46.51 and a 1-year high of $93.77. The company has a market cap of $5.14 billion, a PE ratio of 29.28, a P/E/G ratio of 1.92 and a beta of 0.81.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The firm had revenue of $806.90 million during the quarter, compared to the consensus estimate of $803.81 million. During the same period last year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts forecast 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.