First Trust Advisors LP lifted its stake in shares of Knife River Corporation (NYSE:KNF – Free Report) by 214.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,551 shares of the company’s stock after buying an additional 61,053 shares during the quarter. First Trust Advisors LP’s holdings in Knife River were worth $7,312,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Knife River by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,915,131 shares of the company’s stock valued at $275,431,000 after buying an additional 123,594 shares in the last quarter. State Street Corp raised its stake in Knife River by 0.6% during the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company’s stock worth $171,542,000 after acquiring an additional 12,308 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Knife River by 57.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock worth $124,821,000 after acquiring an additional 648,979 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Knife River by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company’s stock valued at $119,579,000 after acquiring an additional 73,028 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Knife River by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company’s stock valued at $99,730,000 after acquiring an additional 9,125 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.
Knife River Stock Up 0.2%
Shares of NYSE:KNF opened at $73.19 on Friday. The stock has a market cap of $4.15 billion, a P/E ratio of 28.48, a P/E/G ratio of 1.31 and a beta of 0.37. The firm has a fifty day moving average price of $80.37 and a 200 day moving average price of $81.38. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $96.28.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their target price on Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Zacks Research raised Knife River from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Oppenheimer started coverage on Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Royal Bank Of Canada cut their price target on Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.14.
Read Our Latest Analysis on Knife River
Knife River Profile
Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.
In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.
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