Commonwealth Equity Services LLC Sells 2,260 Shares of Knife River Co. (NYSE:KNF)

Commonwealth Equity Services LLC reduced its stake in Knife River Co. (NYSE:KNF) by 7.6% during the 4th quarter, Holdings Channel reports. The fund owned 27,349 shares of the company’s stock after selling 2,260 shares during the period. Commonwealth Equity Services LLC’s holdings in Knife River were worth $2,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC increased its position in 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 buying an additional 227 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Knife River during the 3rd quarter worth $60,000. Jones Financial Companies Lllp lifted its holdings in shares of Knife River by 40.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock worth $169,000 after buying an additional 476 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Knife River in the fourth quarter valued at about $203,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on KNF shares. Stephens reaffirmed an “overweight” rating and set a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company initiated coverage on shares of Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 target price on the stock. Finally, Oppenheimer boosted their price target on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Knife River has an average rating of “Buy” and a consensus target price of $110.40.

Knife River Trading Up 0.4 %

Shares of Knife River stock opened at $97.01 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.36 and a beta of 0.88. The firm’s 50-day moving average price is $97.90 and its two-hundred day moving average price is $96.65.

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