Swiss National Bank Decreases Holdings in Knife River Co. (NYSE:KNF)

Swiss National Bank lowered its stake in shares of Knife River Co. (NYSE:KNF) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,998 shares of the company’s stock after selling 700 shares during the period. Swiss National Bank owned about 0.19% of Knife River worth $9,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after buying an additional 224,373 shares in the last quarter. Hood River Capital Management LLC boosted its stake in shares of Knife River by 5.3% in the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after acquiring an additional 38,152 shares during the last quarter. Congress Asset Management Co. increased its position in shares of Knife River by 10.7% during the third quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock worth $60,745,000 after purchasing an additional 65,930 shares in the last quarter. US Bancorp DE raised its stake in Knife River by 0.3% in the 3rd quarter. US Bancorp DE now owns 423,337 shares of the company’s stock valued at $37,842,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Knife River by 37.5% in the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock valued at $26,949,000 after purchasing an additional 104,720 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Price Performance

Knife River stock opened at $102.65 on Monday. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The stock has a market cap of $5.81 billion, a P/E ratio of 29.41, a PEG ratio of 2.70 and a beta of 0.74. The company has a 50-day moving average price of $93.02 and a 200 day moving average price of $80.68. Knife River Co. has a 12-month low of $58.20 and a 12-month high of $103.33.

Knife River (NYSE:KNF) last released 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). The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 EPS. Sell-side analysts anticipate that Knife River Co. will post 3.57 earnings per share for the current year.

Wall Street Analyst Weigh In

KNF has been the subject of a number of research reports. Loop Capital dropped their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Oppenheimer upped their price objective on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, DA Davidson raised their target price on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River Company 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.