Invesco Ltd. Raises Stock Position in Knife River Co. (NYSE:KNF)

Invesco Ltd. raised its stake in shares of Knife River Co. (NYSE:KNF) by 83.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 879,796 shares of the company’s stock after buying an additional 400,954 shares during the quarter. Invesco Ltd.’s holdings in Knife River were worth $89,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of KNF. FMR LLC increased its position in Knife River by 90.6% during the third quarter. FMR LLC now owns 12,091 shares of the company’s stock valued at $1,081,000 after acquiring an additional 5,746 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Knife River by 3.1% in the 3rd quarter. HighTower Advisors LLC now owns 8,500 shares of the company’s stock worth $756,000 after purchasing an additional 258 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Knife River by 9.1% in the third quarter. Quantinno Capital Management LP now owns 5,677 shares of the company’s stock worth $507,000 after buying an additional 475 shares during the last quarter. Stifel Financial Corp grew its position in Knife River by 36.3% during the third quarter. Stifel Financial Corp now owns 44,495 shares of the company’s stock valued at $3,977,000 after buying an additional 11,839 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in Knife River by 7.6% during the third quarter. Orion Portfolio Solutions LLC now owns 3,446 shares of the company’s stock valued at $308,000 after buying an additional 244 shares during the last quarter. 80.11% of the stock is owned by institutional investors.

Knife River Stock Performance

Shares of NYSE KNF opened at $93.47 on Monday. The stock has a market cap of $5.29 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83. The firm has a fifty day moving average price of $93.69 and a 200-day moving average price of $97.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. Equities analysts anticipate that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KNF has been the subject of a number of recent research reports. Wells Fargo & Company started 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 for the company. Stephens reissued an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $110.40.

Knife River 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.