Knife River Co. (NYSE:KNF) Shares Bought by Arizona State Retirement System

Arizona State Retirement System lifted its position in shares of Knife River Co. (NYSE:KNF) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,609 shares of the company’s stock after acquiring an additional 124 shares during the period. Arizona State Retirement System’s holdings in Knife River were worth $1,586,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. State Street Corp grew its position in shares of Knife River by 1.8% during the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock worth $179,054,000 after acquiring an additional 34,646 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock worth $119,561,000 after acquiring an additional 26,198 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Knife River by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after acquiring an additional 5,791 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Knife River by 2.5% during the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock worth $70,766,000 after acquiring an additional 16,698 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its position in shares of Knife River by 2.1% during the third quarter. Loomis Sayles & Co. L P now owns 660,225 shares of the company’s stock worth $59,017,000 after acquiring an additional 13,490 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

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

Knife River Stock Performance

Shares of KNF opened at $89.21 on Thursday. The firm has a 50-day moving average price of $98.88 and a 200 day moving average price of $95.49. The firm has a market capitalization of $5.05 billion, a PE ratio of 25.20, a P/E/G ratio of 2.36 and a beta of 0.88. 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 52-week low of $66.13 and a 52-week high of $108.83.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. On average, sell-side analysts anticipate 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.