Pecaut & CO. Sells 4,350 Shares of Knife River Corporation (NYSE:KNF)

Pecaut & CO. reduced its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,225 shares of the company's stock after selling 4,350 shares during the period. Knife River accounts for about 1.7% of Pecaut & CO.'s portfolio, making the stock its 16th largest holding. Pecaut & CO. owned about 0.10% of Knife River worth $4,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNF. Capital Research Global Investors increased its stake in shares of Knife River by 45.2% during the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock worth $196,829,000 after purchasing an additional 603,170 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock worth $111,965,000 after purchasing an additional 983,223 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Knife River by 1.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company's stock worth $105,121,000 after purchasing an additional 17,234 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Knife River by 3.7% during the 4th quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock worth $99,934,000 after purchasing an additional 34,747 shares during the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Knife River by 4.3% during the 4th quarter. Hood River Capital Management LLC now owns 906,534 shares of the company's stock worth $92,140,000 after purchasing an additional 37,431 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

Shares of KNF stock traded up $0.42 during midday trading on Monday, hitting $80.99. 543,681 shares of the company were exchanged, compared to its average volume of 467,875. The firm has a market capitalization of $4.59 billion, a P/E ratio of 25.55, a PEG ratio of 2.19 and a beta of 0.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 2.94. The firm's 50 day moving average price is $87.14 and its two-hundred day moving average price is $92.55. 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 announced its earnings results on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The company had revenue of $353.50 million for 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.84) EPS. As a group, equities research analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research 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 set an "outperform" rating and a $129.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Finally, DA Davidson lowered their price objective on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $117.17.

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.