Public Employees Retirement System of Ohio Acquires 14,773 Shares of Knife River Corporation $KNF

Public Employees Retirement System of Ohio raised its holdings in shares of Knife River Corporation (NYSE:KNF) by 48.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,219 shares of the company’s stock after purchasing an additional 14,773 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.08% of Knife River worth $3,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. McMillan Office Inc. bought a new stake in Knife River in the 4th quarter worth about $36,000. Hantz Financial Services Inc. raised its position in Knife River by 66.3% in the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after buying an additional 226 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Knife River by 1,088.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock valued at $42,000 after acquiring an additional 544 shares during the period. Larson Financial Group LLC lifted its stake in Knife River by 198.5% during the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock valued at $57,000 after acquiring an additional 536 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Knife River by 58.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $66,000 after acquiring an additional 345 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on KNF shares. JPMorgan Chase & Co. lifted their price target on shares of Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Zacks Research raised shares of Knife River from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Oppenheimer initiated coverage on shares of Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on shares of Knife River from $80.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.14.

Knife River Price Performance

NYSE KNF opened at $73.27 on Friday. The company has a market capitalization of $4.16 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.36 and a beta of 0.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. The business’s fifty day moving average is $80.35 and its 200 day moving average is $81.44. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $96.28.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.02. The business had revenue of $410.13 million during the quarter, compared to analyst estimates of $387.06 million. Knife River had a return on equity of 9.35% and a net margin of 4.58%.Knife River’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.21) earnings per share. Sell-side analysts predict that Knife River Corporation will post 3.32 earnings per share for the current year.

Knife River Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.