Legacy Wealth Asset Management LLC Takes $254,000 Position in Knife River Co. (NYSE:KNF)

Legacy Wealth Asset Management LLC acquired a new position in Knife River Co. (NYSE:KNF) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,842 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Knife River during the 2nd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Knife River during the 2nd quarter valued at $43,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Knife River in the second quarter worth $96,000. Finally, Horan Capital Advisors LLC. purchased a new stake in shares of Knife River during the first quarter worth $203,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Up 0.9 %

Knife River stock opened at $93.45 on Friday. The company has a market capitalization of $5.29 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.26 and a beta of 0.82. Knife River Co. has a 1-year low of $46.51 and a 1-year high of $95.85. The firm’s fifty day simple moving average is $85.06 and its 200-day simple moving average is $78.08. 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 announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share 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 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Sell-side analysts forecast that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their target price on Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average target price of $86.60.

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.