Golden State Wealth Management LLC Raises Position in Knife River Corporation (NYSE:KNF)

Golden State Wealth Management LLC increased its position in Knife River Corporation (NYSE:KNF - Free Report) by 133.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,782 shares of the company's stock after acquiring an additional 5,024 shares during the quarter. Golden State Wealth Management LLC's holdings in Knife River were worth $792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of Knife River by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 661 shares of the company's stock valued at $60,000 after purchasing an additional 106 shares during the period. Arizona State Retirement System grew its holdings in Knife River by 0.8% during the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company's stock valued at $1,586,000 after buying an additional 124 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Knife River by 58.6% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $43,000 after buying an additional 157 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Knife River by 1.1% in the fourth quarter. Private Advisor Group LLC now owns 15,696 shares of the company's stock worth $1,595,000 after buying an additional 170 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Knife River by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 6,631 shares of the company's stock valued at $598,000 after acquiring an additional 175 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Price Performance

Shares of NYSE KNF traded up $1.43 during mid-day trading on Friday, reaching $82.94. 1,069,855 shares of the company were exchanged, compared to its average volume of 459,679. Knife River Corporation has a 52 week low of $67.22 and a 52 week high of $108.83. The company's 50 day moving average price is $91.44 and its 200 day moving average price is $95.39. The stock has a market capitalization of $4.70 billion, a PE ratio of 26.16, a PEG ratio of 2.21 and a beta of 0.84. The company has a quick ratio of 1.49, a current ratio of 2.94 and a debt-to-equity ratio of 0.82.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). Knife River had a net margin of 6.18% and a return on equity of 12.83%. The firm had revenue of $353.50 million for the quarter, compared to analysts' expectations of $343.98 million. During the same quarter in the previous year, the business earned ($0.84) EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on KNF. Royal Bank Of Canada initiated coverage on shares of Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 target price on the stock. Wells Fargo & Company increased their price objective on Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, DA Davidson reduced their target price on 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $117.17.

Knife River 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.