California State Teachers Retirement System Has $5.49 Million Stock Holdings in Knife River Corporation $KNF

Key Points

• CalSTRS reduced its Knife River position by 0.6% in the second quarter, retaining 65,652 shares worth approximately $5.49 million. Institutional investors collectively own 80.11% of the company.
• Knife River shares rose 1.1% to $57.09 but remain well below the 52-week high of $96.28. The company reported quarterly revenue of $938.57 million, up 12.6% year over year, while earnings per share of $0.77 missed estimates by $0.36.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $84.29; recent targets range from $62 to $103.

California State Teachers Retirement System lessened its position in Knife River Corporation (NYSE:KNF - Free Report) by 0.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 65,652 shares of the company's stock after selling 427 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Knife River worth $5,491,790 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of KNF. Dimensional Fund Advisors LP grew its holdings in Knife River by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company's stock worth $119,579,000 after purchasing an additional 73,028 shares during the period. Geode Capital Management LLC raised its holdings in shares of Knife River by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company's stock worth $99,730,000 after purchasing an additional 9,125 shares during the last quarter. Capital World Investors acquired a new position in Knife River during the fourth quarter worth about $71,166,000. Voss Capital LP boosted its position in shares of Knife River by 61.4% during the fourth quarter. Voss Capital LP now owns 710,048 shares of the company's stock worth $49,952,000 after buying an additional 270,048 shares during the period. Finally, Norges Bank acquired a new stake in shares of Knife River during the fourth quarter worth about $32,753,000. 80.11% of the stock is owned by institutional investors.

Knife River Stock Up 1.1%

NYSE KNF traded up $0.62 during trading hours on Tuesday, hitting $57.09. 675,790 shares of the company were exchanged, compared to its average volume of 643,509. Knife River Corporation has a 52-week low of $55.27 and a 52-week high of $96.28. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.20 and a beta of 0.38. The company has a 50 day moving average of $70.15 and a two-hundred day moving average of $78.24.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.36). The firm had revenue of $938.57 million for the quarter, compared to analyst estimates of $931.39 million. Knife River had a return on equity of 8.73% and a net margin of 4.23%.The company's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. Equities research analysts anticipate that Knife River Corporation will post 2.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KNF shares. DA Davidson began coverage on shares of Knife River in a research note on Monday, August 24th. They issued a "buy" rating and a $85.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Knife River from $73.00 to $62.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Knife River in a research report on Monday, August 24th. Royal Bank Of Canada dropped their price objective on Knife River from $107.00 to $103.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 5th. Finally, Oppenheimer began coverage on Knife River in a report on Thursday, May 28th. They set an "outperform" rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $84.29.

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company that produces and supplies essential materials for public and private infrastructure projects. Its principal products include construction aggregates, ready-mix concrete and asphalt, along with related paving and contracting services.

The company operates an integrated network of quarries, sand and gravel sites, asphalt and concrete plants, and construction operations. Its services support highways, bridges, airports, commercial developments, residential projects and other infrastructure improvements.

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