Mercer Global Advisors Inc. ADV Trims Stock Position in Knife River Co. (NYSE:KNF)

Mercer Global Advisors Inc. ADV decreased its holdings in Knife River Co. (NYSE:KNF) by 4.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,464 shares of the company’s stock after selling 188 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Knife River were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Knife River by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after purchasing an additional 503,892 shares during the period. Gilder Gagnon Howe & Co. LLC grew its stake in shares of Knife River by 48.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock valued at $76,138,000 after buying an additional 373,359 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Knife River by 122.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after buying an additional 450,574 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Knife River by 37.5% in the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock worth $26,949,000 after buying an additional 104,720 shares during the period. Finally, Intrinsic Edge Capital Management LLC boosted its holdings in Knife River by 28.4% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 262,816 shares of the company’s stock valued at $17,393,000 after acquiring an additional 58,098 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

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

Knife River Stock Performance

NYSE:KNF opened at $89.07 on Monday. Knife River Co. has a twelve month low of $46.51 and a twelve month high of $93.77. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 2.17 and a beta of 0.81. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $79.01 and its 200 day simple moving average is $76.39.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. The company had revenue of $806.90 million during the quarter, compared to the consensus estimate of $803.81 million. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 earnings per share. As a group, equities research analysts expect that Knife River Co. will post 3.72 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.