Allspring Global Investments Holdings LLC Sells 7,546 Shares of Knife River Corporation (NYSE:KNF)

Allspring Global Investments Holdings LLC lessened its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,440 shares of the company's stock after selling 7,546 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of Knife River worth $4,659,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in Knife River by 19.1% during the first quarter. Fifth Third Bancorp now owns 661 shares of the company's stock valued at $60,000 after acquiring an additional 106 shares during the last quarter. Arizona State Retirement System grew its holdings in Knife River by 0.8% during the fourth quarter. Arizona State Retirement System now owns 15,609 shares of the company's stock valued at $1,586,000 after purchasing an additional 124 shares during the period. Larson Financial Group LLC grew its holdings in 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 purchasing an additional 157 shares during the period. State of Alaska Department of Revenue grew its holdings 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 purchasing an additional 175 shares during the period. Finally, Bragg Financial Advisors Inc grew its holdings in Knife River by 0.4% during the fourth quarter. Bragg Financial Advisors Inc now owns 45,365 shares of the company's stock valued at $4,611,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KNF shares. 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. Royal Bank Of Canada started coverage on Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 price target for the company. Finally, DA Davidson cut 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Knife River has a consensus rating of "Buy" and a consensus price target of $117.17.

Knife River Price Performance

Shares of NYSE KNF traded up $0.16 during mid-day trading on Tuesday, reaching $78.92. The company's stock had a trading volume of 384,844 shares, compared to its average volume of 458,848. The firm has a market capitalization of $4.47 billion, a PE ratio of 24.90, a P/E/G ratio of 2.19 and a beta of 0.63. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49. The stock has a fifty day moving average of $90.14 and a two-hundred day moving average of $94.16. Knife River Corporation has a 52 week low of $67.22 and a 52 week high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $343.98 million. Knife River had a return on equity of 12.83% and a net margin of 6.18%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned ($0.84) EPS. As a group, sell-side analysts anticipate that Knife River Corporation will post 4.11 EPS for the current fiscal 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.