Knife River Co. (NYSE:KNF) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Knife River Co. (NYSE:KNF) by 27.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,908 shares of the company’s stock after purchasing an additional 1,467 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Knife River were worth $618,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KNF. GAMMA Investing LLC lifted its position in shares of Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after acquiring an additional 176 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Knife River during the second quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Knife River during the second quarter valued at $43,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Knife River in the 2nd quarter valued at $96,000. Finally, Koshinski Asset Management Inc. purchased a new position in Knife River in the 1st quarter worth about $206,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Performance

KNF stock opened at $101.08 on Friday. The firm has a 50 day simple moving average of $88.61 and a 200 day simple moving average of $79.18. Knife River Co. has a 52 week low of $54.67 and a 52 week high of $103.14. The stock has a market cap of $5.72 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.20 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.49 and a current ratio of 2.72.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. Research analysts anticipate that Knife River Co. will post 3.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KNF. DA Davidson upped their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital reduced their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Oppenheimer lifted their price objective on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and an average price target of $93.67.

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.