Knife River Co. (NYSE:KNF) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC cut its stake in shares of Knife River Co. (NYSE:KNF) by 76.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,000 shares of the company’s stock after selling 50,000 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Knife River were worth $1,052,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Knife River during the 2nd quarter worth approximately $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Knife River during the second quarter worth $43,000. TFO Wealth Partners LLC grew its stake in shares of Knife River by 38,250.0% during the fourth quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock worth $51,000 after purchasing an additional 765 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Knife River in the second quarter valued at $96,000. Finally, Horan Capital Advisors LLC. acquired a new stake in Knife River in the first quarter valued at $203,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Performance

NYSE KNF opened at $89.07 on Friday. The company has a fifty day moving average of $79.01 and a two-hundred day moving average of $76.39. The company has a market capitalization of $5.04 billion, a PE ratio of 28.73, a P/E/G ratio of 2.17 and a beta of 0.81. Knife River Co. has a 1 year low of $46.51 and a 1 year high of $93.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49.

Knife River (NYSE:KNF) last announced its earnings results 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 firm had revenue of $806.90 million during the quarter, compared to analysts’ expectations of $803.81 million. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. As a group, analysts expect that Knife River Co. will post 3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.