Baillie Gifford & Co. Has $149.73 Million Stake in Knife River Corporation $KNF

Key Points

• Baillie Gifford & Co. trimmed its position in Knife River by 3.2%, leaving it with 2,128,401 shares—about 3.76% ownership valued at $149.73 million.
• Knife River beat expectations last quarter with $0.56 EPS vs. $0.41 estimated and revenue of $755.1 million (up 14.9% year-over-year), reporting a return on equity of 10.27%.
• Analysts have a consensus "Moderate Buy" rating on the stock with a $97.43 average target, based on six Buys, three Holds and one Sell and several recent price-target increases.

Baillie Gifford & Co. trimmed its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,128,401 shares of the company's stock after selling 70,370 shares during the period. Baillie Gifford & Co. owned approximately 3.76% of Knife River worth $149,733,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of Knife River by 284.9% in the 1st quarter. Jones Financial Companies Lllp now owns 6,390 shares of the company's stock valued at $576,000 after purchasing an additional 4,730 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Knife River in the 1st quarter valued at $424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Knife River by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,565 shares of the company's stock valued at $20,529,000 after purchasing an additional 32,762 shares in the last quarter. State Street Corp boosted its stake in shares of Knife River by 0.6% in the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company's stock valued at $171,542,000 after purchasing an additional 12,308 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Knife River by 71.0% in the 2nd quarter. Raymond James Financial Inc. now owns 354,860 shares of the company's stock valued at $28,971,000 after purchasing an additional 147,387 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Knife River in a research note on Thursday, January 22nd. Wells Fargo & Company downgraded shares of Knife River from an "equal weight" rating to an "underweight" rating and raised their price target for the company from $75.00 to $81.00 in a research note on Wednesday, February 18th. Zacks Research upgraded shares of Knife River from a "strong sell" rating to a "hold" rating in a research note on Monday, January 5th. B. Riley Financial started coverage on Knife River in a report on Thursday, January 15th. They set a "buy" rating and a $92.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Knife River from $83.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.43.

Knife River Stock Down 0.1%

NYSE:KNF opened at $83.95 on Monday. The firm's 50 day simple moving average is $82.37 and its 200 day simple moving average is $75.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.54 and a quick ratio of 1.39. Knife River Corporation has a one year low of $58.72 and a one year high of $103.18. The company has a market cap of $4.76 billion, a PE ratio of 30.42, a P/E/G ratio of 1.89 and a beta of 0.41.

Knife River (NYSE:KNF - Get Free Report) last announced its earnings results on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The firm had revenue of $755.06 million for the quarter, compared to the consensus estimate of $726.60 million. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The business's quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. On average, research analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current year.

Knife River Company 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.

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