Harvest Fund Management Co. Ltd Raises Stake in Knife River Co. (NYSE:KNF)

Harvest Fund Management Co. Ltd grew its stake in shares of Knife River Co. (NYSE:KNF) by 933.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,956 shares of the company’s stock after acquiring an additional 6,283 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Knife River were worth $708,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Xponance Inc. boosted its position in shares of Knife River by 4.8% during the 4th quarter. Xponance Inc. now owns 8,024 shares of the company’s stock worth $816,000 after purchasing an additional 366 shares in the last quarter. Boston Partners boosted its position in shares of Knife River by 2.1% during the 4th quarter. Boston Partners now owns 235,481 shares of the company’s stock worth $24,107,000 after purchasing an additional 4,815 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Knife River during the 4th quarter worth $540,000. Natixis Advisors LLC boosted its position in shares of Knife River by 1.6% during the 4th quarter. Natixis Advisors LLC now owns 13,244 shares of the company’s stock worth $1,346,000 after purchasing an additional 203 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Knife River by 0.8% in the 4th quarter. Swiss National Bank now owns 105,798 shares of the company’s stock worth $10,753,000 after buying an additional 800 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNF has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on shares of Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 price objective on the stock. Oppenheimer boosted their price objective on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Stephens reiterated an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research report on Friday, February 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Knife River presently has an average rating of “Buy” and a consensus target price of $110.40.

Knife River Trading Down 5.0 %

Shares of KNF stock opened at $90.78 on Friday. The firm has a 50-day moving average price of $98.01 and a 200 day moving average price of $95.96. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 2.36 and a beta of 0.88. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The firm had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Research analysts forecast 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.