Drive Wealth Management LLC Takes $2.06 Million Position in Knife River Co. (NYSE:KNF)

Drive Wealth Management LLC purchased a new stake in shares of Knife River Co. (NYSE:KNF) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 20,284 shares of the company’s stock, valued at approximately $2,062,000.

A number of other hedge funds also recently made changes to their positions in KNF. GAMMA Investing LLC lifted its stake in Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Huntington National Bank grew its holdings in Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after purchasing an additional 293 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Knife River in the second quarter worth about $43,000. Harvest Fund Management Co. Ltd purchased a new stake in Knife River in the third quarter worth about $60,000. Finally, Sittner & Nelson LLC grew its holdings in Knife River by 18.5% in the third 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. 80.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KNF has been the topic of a number of recent research reports. Loop Capital cut their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Oppenheimer upped their price objective on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, DA Davidson upped their price objective on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Knife River Trading Up 1.2 %

Shares of NYSE KNF opened at $104.81 on Monday. The firm’s 50 day moving average price is $102.29 and its 200-day moving average price is $90.62. The company has a market cap of $5.93 billion, a PE ratio of 30.03, a P/E/G ratio of 2.47 and a beta of 0.78. Knife River Co. has a 52-week low of $63.72 and a 52-week high of $108.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72.

Knife River (NYSE:KNF) last issued 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). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 EPS. On average, equities research analysts expect that Knife River Co. will post 3.49 EPS 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.