Raymond James & Associates Has $908,000 Stock Holdings in Knife River Co. (NYSE:KNF)

Raymond James & Associates trimmed its stake in Knife River Co. (NYSE:KNF) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,719 shares of the company’s stock after selling 1,985 shares during the quarter. Raymond James & Associates’ holdings in Knife River were worth $908,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of KNF. Schonfeld Strategic Advisors LLC grew its stake in Knife River by 19.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock valued at $54,720,000 after purchasing an additional 184,192 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Knife River in the third quarter valued at approximately $6,739,000. Eagle Asset Management Inc. bought a new position in Knife River in the third quarter valued at approximately $6,273,000. Allspring Global Investments Holdings LLC grew its stake in Knife River by 48.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 348,541 shares of the company’s stock valued at $17,019,000 after purchasing an additional 113,575 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Knife River by 421.9% in the third quarter. New York State Common Retirement Fund now owns 124,632 shares of the company’s stock valued at $6,086,000 after purchasing an additional 100,750 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Price Performance

Knife River stock opened at $76.58 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.71 and a current ratio of 2.63. Knife River Co. has a 52 week low of $33.67 and a 52 week high of $83.78. The stock has a market capitalization of $4.34 billion and a P/E ratio of -0.15. The stock has a fifty day moving average of $76.10 and a 200-day moving average of $65.77.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The company had revenue of $646.90 million during the quarter, compared to analysts’ expectations of $566.47 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, sell-side analysts expect that Knife River Co. will post 3.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KNF shares. Bank of America started coverage on Knife River in a research note on Friday, January 5th. They issued a “buy” rating and a $81.00 price target for the company. Siebert Williams Shank boosted their price target on Knife River from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. Oppenheimer boosted their price target on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Wolfe Research started coverage on Knife River in a research note on Friday, March 8th. They issued a “peer perform” rating for the company. Finally, Loop Capital started coverage on Knife River in a research note on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.20.

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.