Convergence Investment Partners LLC Acquires Shares of 8,222 Knife River Corporation (NYSE:KNF)

Convergence Investment Partners LLC acquired a new stake in Knife River Corporation (NYSE:KNF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,222 shares of the company's stock, valued at approximately $742,000.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Knife River by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 155,329 shares of the company's stock valued at $14,012,000 after purchasing an additional 697 shares during the period. Golden State Wealth Management LLC boosted its holdings in Knife River by 14.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock valued at $389,000 after purchasing an additional 555 shares during the period. OneDigital Investment Advisors LLC bought a new stake in shares of Knife River during the 1st quarter worth approximately $206,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Knife River by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company's stock worth $729,000 after acquiring an additional 485 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Knife River by 99.3% during the 1st quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock worth $97,000 after acquiring an additional 535 shares during the period. Institutional investors own 80.11% of the company's stock.

Knife River Trading Up 0.8%

Shares of KNF traded up $0.65 during trading hours on Friday, hitting $82.16. 350,827 shares of the stock were exchanged, compared to its average volume of 622,238. Knife River Corporation has a fifty-two week low of $67.22 and a fifty-two week high of $108.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49. The business has a 50-day moving average of $85.61 and a 200-day moving average of $92.12. The firm has a market capitalization of $4.65 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The firm had revenue of $353.50 million for the quarter, compared to analyst estimates of $343.98 million. Knife River had a return on equity of 12.83% and a net margin of 6.18%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.84) earnings per share. On average, research analysts expect that Knife River Corporation will post 4.11 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KNF. Royal Bank Of Canada began coverage on shares of Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, DA Davidson decreased their price target on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Knife River has a consensus rating of "Buy" and a consensus target price of $117.17.

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.