ProShare Advisors LLC Boosts Stake in Knife River Co. (NYSE:KNF)

ProShare Advisors LLC boosted its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,650 shares of the company's stock after purchasing an additional 5,446 shares during the period. ProShare Advisors LLC's holdings in Knife River were worth $1,896,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC grew its holdings 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 last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Knife River in the fourth quarter worth $79,000. Lee Danner & Bass Inc. acquired a new stake in shares of Knife River in the fourth quarter worth $109,000. Physician Wealth Advisors Inc. purchased a new position in shares of Knife River during the fourth quarter worth $114,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Knife River by 40.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company's stock valued at $169,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Price Performance

Shares of KNF traded down $0.57 during trading hours on Monday, hitting $96.11. 210,812 shares of the stock were exchanged, compared to its average volume of 429,569. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The stock's 50-day moving average price is $93.23 and its two-hundred day moving average price is $97.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF - Get Free Report) last posted 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). The business 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 14.82% and a net margin of 6.96%. The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.84) earnings per share. Research analysts expect that Knife River Co. will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KNF. Wells Fargo & Company boosted their price target on Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Stephens reaffirmed an "overweight" rating and set a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $112.80.

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.