Massachusetts Financial Services Co. MA Raises Stock Holdings in Knife River Corporation $KNF

Key Points

• Massachusetts Financial Services Co. increased its stake in Knife River by 30.8% in Q4, adding 135,982 shares to hold 578,023 shares — roughly a 1.02% ownership valued at about $40.7 million per the latest 13F filing.
• Knife River beat Q4 estimates with $0.56 EPS (vs. $0.41 expected) and revenue of $755.1M (up 14.9% YoY), and analysts have a consensus Moderate Buy rating with an average price target of $97.43.
• Institutional investors own about 80.11% of the company; Knife River has a market cap of ~$5.03 billion and trades at a P/E of 32.13, with a 12‑month range of $58.72–$103.18.

Massachusetts Financial Services Co. MA increased its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 578,023 shares of the company's stock after acquiring an additional 135,982 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.02% of Knife River worth $40,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Investment Partners LLC raised its stake in shares of Knife River by 5.8% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 2,941 shares of the company's stock worth $226,000 after purchasing an additional 161 shares during the period. GAMMA Investing LLC grew its position in Knife River by 34.8% during the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company's stock valued at $48,000 after buying an additional 177 shares during the period. Hantz Financial Services Inc. grew its position in Knife River by 141.8% during the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company's stock valued at $26,000 after buying an additional 200 shares during the period. Allied Investment Advisors LLC increased its holdings in Knife River by 4.6% during the third quarter. Allied Investment Advisors LLC now owns 4,722 shares of the company's stock worth $363,000 after buying an additional 206 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Knife River by 6.3% in the third quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company's stock worth $285,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Stock Performance

Shares of KNF stock opened at $88.67 on Wednesday. The firm's 50 day moving average is $83.03 and its 200 day moving average is $75.69. The stock has a market capitalization of $5.03 billion, a P/E ratio of 32.13, a PEG ratio of 1.95 and a beta of 0.41. Knife River Corporation has a 12 month low of $58.72 and a 12 month high of $103.18. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.70.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results on Tuesday, February 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.15. The business had revenue of $755.06 million for the quarter, compared to analysts' expectations of $726.60 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, sell-side analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Knife River from $83.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Stephens increased their price objective on Knife River from $86.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. Wells Fargo & Company downgraded Knife River from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $75.00 to $81.00 in a research report on Wednesday, February 18th. DA Davidson boosted their target price on Knife River from $95.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Finally, Zacks Research raised Knife River from a "strong sell" rating to a "hold" rating in a research report on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Knife River presently has a consensus rating of "Moderate Buy" and an average price target of $97.43.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

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