PNC Financial Services Group Inc. Sells 7,340 Shares of Knife River Co. (NYSE:KNF)

PNC Financial Services Group Inc. reduced its holdings in Knife River Co. (NYSE:KNF) by 62.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,396 shares of the company’s stock after selling 7,340 shares during the period. PNC Financial Services Group Inc.’s holdings in Knife River were worth $447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in KNF. Huntington National Bank increased its position in Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after buying an additional 293 shares during the period. GAMMA Investing LLC grew its holdings in shares of Knife River by 72.8% during the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after purchasing an additional 227 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Knife River during the 3rd quarter worth approximately $60,000. KBC Group NV grew its holdings in shares of Knife River by 23.1% during the 3rd quarter. KBC Group NV now owns 1,763 shares of the company’s stock worth $158,000 after purchasing an additional 331 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Knife River by 40.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock worth $169,000 after purchasing an additional 476 shares in the last quarter. 80.11% of the stock is owned by institutional investors.

Knife River Price Performance

Shares of KNF stock opened at $95.57 on Thursday. The stock’s fifty day simple moving average is $98.16 and its 200 day simple moving average is $96.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.36 and a beta of 0.88. Knife River Co. has a one year low of $66.13 and a one year high of $108.83.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. The business had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. On average, analysts expect that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Oppenheimer lifted their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Stephens reissued an “overweight” rating and set a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Finally, Wells Fargo & Company initiated coverage on Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $110.40.

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.