Corebridge Financial Inc. Sells 4,991 Shares of Knife River Co. (NYSE:KNF)

Corebridge Financial Inc. trimmed its position in Knife River Co. (NYSE:KNF) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 91,914 shares of the company’s stock after selling 4,991 shares during the quarter. Corebridge Financial Inc.’s holdings in Knife River were worth $9,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System lifted its stake in Knife River by 0.8% in the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock valued at $1,586,000 after acquiring an additional 124 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Knife River by 58.6% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Knife River by 1.1% during the fourth quarter. Private Advisor Group LLC now owns 15,696 shares of the company’s stock worth $1,595,000 after purchasing an additional 170 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Knife River by 1.6% during the fourth quarter. Natixis Advisors LLC now owns 13,244 shares of the company’s stock worth $1,346,000 after purchasing an additional 203 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock valued at $55,000 after purchasing an additional 227 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KNF. Stephens restated an “overweight” rating and set a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company initiated coverage on Knife River in a research report on Monday, March 10th. They set an “overweight” rating and a $102.00 price target for the company. Finally, Oppenheimer raised their price target on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River presently has an average rating of “Buy” and a consensus price target of $110.40.

Knife River Trading Down 1.0 %

Shares of NYSE:KNF opened at $96.10 on Thursday. The company has a 50-day simple moving average of $97.80 and a 200 day simple moving average of $96.65. The company has a market capitalization of $5.44 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83.

Knife River (NYSE:KNF) last issued its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Sell-side analysts forecast that Knife River Co. will post 4.11 earnings per share for the current 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.