Gilder Gagnon Howe & Co. LLC Cuts Stock Holdings in Knife River Corporation $KNF

Gilder Gagnon Howe & Co. LLC lowered its position in Knife River Corporation (NYSE:KNF) by 30.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 714,485 shares of the company’s stock after selling 311,164 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 1.26% of Knife River worth $58,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its holdings in Knife River by 127.2% during the second quarter. Teacher Retirement System of Texas now owns 128,785 shares of the company’s stock worth $10,514,000 after acquiring an additional 72,108 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Knife River by 32.1% during the 1st quarter. Ameriprise Financial Inc. now owns 605,274 shares of the company’s stock worth $54,604,000 after purchasing an additional 146,987 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Knife River by 27.2% during the 2nd quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock worth $55,998,000 after purchasing an additional 146,782 shares during the period. DMKC Advisory Services LLC purchased a new position in shares of Knife River in the 2nd quarter valued at about $358,000. Finally, Rhumbline Advisers lifted its stake in shares of Knife River by 2.8% in the second quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock valued at $14,825,000 after purchasing an additional 4,889 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. UBS Group raised Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded Knife River from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. started coverage on Knife River in a research report on Thursday, December 4th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Wells Fargo & Company raised Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 target price on the stock in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.33.

Knife River Trading Down 1.7%

Shares of KNF opened at $77.15 on Friday. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $108.83. The company has a market capitalization of $4.37 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 1.59 and a beta of 0.43. The stock has a fifty day moving average of $69.35 and a two-hundred day moving average of $78.09. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, analysts forecast that Knife River Corporation will post 4.11 EPS for the current 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.