Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Knife River Co. (NYSE:KNF)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Knife River Co. (NYSE:KNF) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,624 shares of the company’s stock after purchasing an additional 996 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Knife River were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KNF. Raymond James Financial Inc. bought a new position in Knife River in the fourth quarter valued at about $14,600,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Knife River during the 3rd quarter valued at about $10,267,000. Barclays PLC lifted its stake in shares of Knife River by 156.2% in the 3rd quarter. Barclays PLC now owns 170,101 shares of the company’s stock worth $15,205,000 after purchasing an additional 103,713 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Knife River by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after buying an additional 49,785 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in Knife River during the fourth quarter valued at approximately $4,201,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Performance

Shares of NYSE KNF opened at $95.57 on Thursday. The stock has a market cap of $5.41 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83. The firm has a fifty day moving average price of $98.16 and a 200-day moving average price of $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.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KNF. Wells Fargo & Company began coverage on shares of Knife River in a research note on Monday, March 10th. They set an “overweight” rating and a $102.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Finally, Oppenheimer upped their price target on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target 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.