Eagle Asset Management Inc. Trims Stake in Knife River Co. (NYSE:KNF)

Eagle Asset Management Inc. cut its stake in Knife River Co. (NYSE:KNF) by 22.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,141 shares of the company’s stock after selling 43,377 shares during the period. Eagle Asset Management Inc.’s holdings in Knife River were worth $13,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Angeles Wealth Management LLC grew its stake in shares of Knife River by 1.5% in the third quarter. Angeles Wealth Management LLC now owns 8,500 shares of the company’s stock worth $760,000 after acquiring an additional 125 shares during the period. Sittner & Nelson LLC grew its position in Knife River by 18.5% in the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after purchasing an additional 150 shares during the period. Covestor Ltd raised its stake in Knife River by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company’s stock valued at $115,000 after buying an additional 150 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 buying an additional 176 shares during the period. Finally, LVW Advisors LLC lifted its holdings in shares of Knife River by 3.3% during the 3rd quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock valued at $539,000 after buying an additional 195 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Trading Up 2.1 %

Shares of KNF opened at $102.65 on Friday. Knife River Co. has a twelve month low of $58.20 and a twelve month high of $103.33. 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 company’s fifty day simple moving average is $93.02 and its 200-day simple moving average is $80.66. The company has a market cap of $5.81 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.70 and a beta of 0.74.

Knife River (NYSE:KNF) last announced its earnings results on Monday, November 4th. The company reported $2.60 earnings per share (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 business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $2.58 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, analysts expect that Knife River Co. will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

KNF has been the topic of a number of recent research reports. DA Davidson increased 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 lowered their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Oppenheimer boosted their target price on shares of Knife River from $85.00 to $110.00 and gave the company 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 issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.