PNC Financial Services Group Inc. Trims Stock Holdings in Knife River Co. (NYSE:KNF)

PNC Financial Services Group Inc. lessened its stake in shares of Knife River Co. (NYSE:KNF) by 32.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,736 shares of the company’s stock after selling 5,671 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Knife River were worth $1,049,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of 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 purchasing an additional 224,373 shares during the period. Hood River Capital Management LLC lifted its stake in Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after purchasing an additional 38,152 shares in the last quarter. Congress Asset Management Co. boosted 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 buying an additional 65,930 shares during the period. US Bancorp DE grew its stake in shares of Knife River by 0.3% in the third quarter. US Bancorp DE now owns 423,337 shares of the company’s stock valued at $37,842,000 after buying an additional 1,090 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings 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 valued at $26,949,000 after buying an additional 104,720 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KNF shares. DA Davidson raised their target price on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Loop Capital reduced their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Oppenheimer lifted their price objective on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River Price Performance

KNF stock opened at $102.73 on Thursday. The business’s 50-day moving average is $93.92 and its two-hundred day moving average is $81.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. The firm has a market capitalization of $5.82 billion, a P/E ratio of 29.43, a P/E/G ratio of 2.80 and a beta of 0.74. Knife River Co. has a 1 year low of $58.92 and a 1 year high of $105.63.

Knife River (NYSE:KNF) last issued its earnings results on Monday, November 4th. The company reported $2.60 earnings per share 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 firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $2.58 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. Analysts anticipate that Knife River Co. will post 3.57 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.