Handelsbanken Fonder AB Increases Position in Knife River Corporation (NYSE:KNF)

Handelsbanken Fonder AB grew its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 32.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,800 shares of the company's stock after purchasing an additional 4,100 shares during the quarter. Handelsbanken Fonder AB's holdings in Knife River were worth $1,516,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Knife River in the 1st quarter valued at about $718,000. GAMMA Investing LLC increased its stake in shares of Knife River by 99.3% during the first quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock worth $97,000 after buying an additional 535 shares during the period. Portside Wealth Group LLC raised its holdings in Knife River by 16.0% in the first quarter. Portside Wealth Group LLC now owns 3,815 shares of the company's stock valued at $344,000 after acquiring an additional 526 shares in the last quarter. UMB Bank n.a. lifted its stake in Knife River by 239.5% in the first quarter. UMB Bank n.a. now owns 567 shares of the company's stock worth $51,000 after acquiring an additional 400 shares during the last quarter. Finally, Congress Asset Management Co. grew its holdings in Knife River by 5.4% during the 1st quarter. Congress Asset Management Co. now owns 733,832 shares of the company's stock worth $66,199,000 after acquiring an additional 37,587 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KNF shares. Royal Bank Of Canada started coverage on shares of Knife River in a report on Monday. They issued an "outperform" rating and a $129.00 price objective on the stock. DA Davidson cut their price target on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company upped 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $117.17.

Knife River Stock Performance

NYSE KNF traded down $0.83 during trading hours on Wednesday, hitting $79.62. The company had a trading volume of 561,887 shares, compared to its average volume of 444,917. The business has a 50 day moving average of $93.12 and a 200-day moving average of $96.44. The company has a market cap of $4.51 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.17 and a beta of 0.84. Knife River Corporation has a 1-year low of $66.51 and a 1-year high of $108.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 2.94.

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

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.