Granahan Investment Management LLC Acquires 42,720 Shares of Knife River Co. (NYSE:KNF)

Granahan Investment Management LLC raised its holdings in shares of Knife River Co. (NYSE:KNF) by 35.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,577 shares of the company’s stock after buying an additional 42,720 shares during the period. Granahan Investment Management LLC owned about 0.29% of Knife River worth $16,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. grew its position in Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after acquiring an additional 983,223 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock worth $90,224,000 after purchasing an additional 819,439 shares during the last quarter. Norges Bank purchased a new position in shares of Knife River in the fourth quarter worth $66,631,000. Capital Research Global Investors raised its holdings in Knife River by 45.2% during the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after buying an additional 603,170 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Knife River during the 4th quarter valued at $46,750,000. 80.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KNF. Stephens restated an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Wells Fargo & Company assumed coverage on shares of Knife River in a research report on Monday, March 10th. They set an “overweight” rating and a $102.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $110.40.

Knife River Trading Up 1.6 %

KNF opened at $94.91 on Friday. 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. The stock has a market cap of $5.38 billion, a PE ratio of 26.81, a PEG ratio of 2.36 and a beta of 0.96. The business has a 50 day moving average of $91.39 and a 200-day moving average of $97.21.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The firm had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $343.98 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.84) EPS. Equities research analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Knife River Company 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.