Knife River Corporation (NYSE:KNF) Shares Sold by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in Knife River Corporation by 88.3% in Q1, now holding 811 shares valued at $73,000.
• Knife River's quarterly earnings were reported at ($1.21) EPS, missing analysts' estimates while revenue increased by 7.3% year-over-year to $353.50 million.
• Analysts have varied opinions on Knife River, with target prices ranging from $96.00 to $129.00 and a consensus rating of "Buy."

Harvest Fund Management Co. Ltd decreased its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 88.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 811 shares of the company's stock after selling 6,145 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Knife River were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KNF. Opal Wealth Advisors LLC bought a new stake in shares of Knife River during the first quarter valued at approximately $26,000. Versant Capital Management Inc raised its position in shares of Knife River by 501.9% during the first quarter. Versant Capital Management Inc now owns 325 shares of the company's stock valued at $29,000 after buying an additional 271 shares during the last quarter. State of Wyoming bought a new stake in shares of Knife River during the fourth quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Knife River during the first quarter valued at approximately $35,000. Finally, Bessemer Group Inc. raised its position in shares of Knife River by 173.9% during the first quarter. Bessemer Group Inc. now owns 545 shares of the company's stock valued at $49,000 after buying an additional 346 shares during the last quarter. Institutional investors own 80.11% of the company's stock.

Knife River Price Performance

KNF stock traded up $2.55 during midday trading on Tuesday, reaching $86.91. The stock had a trading volume of 1,400,432 shares, compared to its average volume of 548,975. Knife River Corporation has a 52-week low of $69.73 and a 52-week high of $108.83. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.27 and a beta of 0.63. The company's fifty day simple moving average is $84.06 and its 200 day simple moving average is $91.49. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). Knife River had a return on equity of 12.83% and a net margin of 6.18%. The company had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. During the same period last year, the business earned $1.37 earnings per share. The firm's revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. DA Davidson reduced their price target on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 10th. Wells Fargo & Company cut their price objective on shares of Knife River from $114.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada began coverage on shares of Knife River in a research note on Monday, June 16th. They set an "outperform" rating and a $129.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Knife River presently has a consensus rating of "Buy" and an average target price of $114.17.

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.