Deutsche Bank AG Sells 61,578 Shares of Knife River Corporation (NYSE:KNF)

Key Points

• Deutsche Bank AG reduced its stake in Knife River Corporation by 34.2%, selling 61,578 shares to end up with 118,509 shares worth approximately $10.69 million.
• Analysts have mixed sentiments on Knife River, with some lowering price targets, while others, like Wells Fargo and Royal Bank of Canada, provide optimistic ratings and revised price targets.
• Knife River Corporation reported quarterly earnings of $0.89 per share, missing estimates by $0.38, despite a revenue increase of 3.3% compared to the same period last year.

Deutsche Bank AG reduced its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,509 shares of the company's stock after selling 61,578 shares during the period. Deutsche Bank AG owned 0.21% of Knife River worth $10,691,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in Knife River by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 155,329 shares of the company's stock worth $14,012,000 after purchasing an additional 697 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Knife River by 14.8% during the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock worth $389,000 after acquiring an additional 555 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in Knife River during the 1st quarter worth about $206,000. Wealth Enhancement Advisory Services LLC grew its holdings in 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 grew its holdings in 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. 80.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. DA Davidson decreased their price target on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Wells Fargo & Company raised their target price on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Royal Bank Of Canada initiated coverage on Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $114.33.

Knife River Stock Performance

Shares of KNF opened at $90.99 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. The stock has a 50-day moving average of $83.06 and a 200-day moving average of $90.70. The company has a market cap of $5.16 billion, a PE ratio of 33.82, a P/E/G ratio of 6.89 and a beta of 0.63. Knife River Corporation has a one year low of $73.76 and a one year high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a net margin of 5.20% and a return on equity of 10.58%. The business had revenue of $833.80 million during the quarter, compared to the consensus estimate of $902.26 million. During the same period in the previous year, the business posted $1.37 EPS. Knife River's revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

About Knife River

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.

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