Massachusetts Financial Services Co. MA Buys Shares of 272,973 Knife River Co. (NYSE:KNF)

Massachusetts Financial Services Co. MA purchased a new position in shares of Knife River Co. (NYSE:KNF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 272,973 shares of the company’s stock, valued at approximately $27,745,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Knife River by 10.5% during the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after buying an additional 39,991 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Knife River by 34.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company’s stock valued at $5,220,000 after purchasing an additional 13,199 shares in the last quarter. State Street Corp grew its position in shares of Knife River by 1.8% in the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after purchasing an additional 34,646 shares during the period. JPMorgan Chase & Co. increased its stake in Knife River by 31.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after purchasing an additional 49,785 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Knife River by 36.3% during the 3rd quarter. Stifel Financial Corp now owns 44,495 shares of the company’s stock worth $3,977,000 after purchasing an additional 11,839 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of KNF stock opened at $83.98 on Monday. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company’s fifty day simple moving average is $95.77 and its 200-day simple moving average is $97.14. The firm has a market cap of $4.75 billion, a PE ratio of 23.72, a P/E/G ratio of 2.36 and a beta of 0.89. 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 (NYSE:KNF) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. Equities research analysts expect that Knife River Co. will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company assumed coverage on shares of Knife River in a research note on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price for the company. Finally, Stephens reiterated an “overweight” rating and set a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $110.40.

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.