Knife River Corporation (NYSE:KNF) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in Knife River Corporation (NYSE:KNF - Free Report) by 56.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,781 shares of the company's stock after buying an additional 153,808 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.75% of Knife River worth $38,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Knife River by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 155,329 shares of the company's stock worth $14,012,000 after purchasing an additional 697 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Knife River by 14.8% during the first quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock worth $389,000 after buying an additional 555 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in Knife River during the first quarter worth approximately $206,000. Wealth Enhancement Advisory Services LLC boosted its stake in Knife River by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company's stock worth $729,000 after buying an additional 485 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Knife River by 99.3% in the 1st quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock valued at $97,000 after buying an additional 535 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KNF shares. Royal Bank Of Canada started coverage on shares of Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target for the company. Wells Fargo & Company upped their price target on Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, DA Davidson reduced their price objective on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $117.17.

Knife River Stock Up 1.6%

NYSE KNF traded up $1.24 during trading hours on Friday, hitting $80.61. 657,451 shares of the company were exchanged, compared to its average volume of 467,524. The company has a 50 day moving average of $87.80 and a two-hundred day moving average of $92.95. The company has a quick ratio of 1.49, a current ratio of 2.94 and a debt-to-equity ratio of 0.82. Knife River Corporation has a 52-week low of $67.22 and a 52-week high of $108.83. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.16 and a beta of 0.63.

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 (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The company 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 business's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.84) EPS. Equities research analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current year.

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.