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

Pecaut & CO. lowered its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,225 shares of the company's stock after selling 4,350 shares during the quarter. Knife River makes up approximately 1.7% of Pecaut & CO.'s holdings, making the stock its 16th largest position. Pecaut & CO. owned approximately 0.10% of Knife River worth $4,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KNF. Fifth Third Bancorp raised its stake in Knife River by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 661 shares of the company's stock valued at $60,000 after acquiring an additional 106 shares in the last quarter. Greenleaf Trust raised its stake in shares of Knife River by 6.7% in the 1st quarter. Greenleaf Trust now owns 2,567 shares of the company's stock worth $232,000 after buying an additional 162 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Knife River by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 6,631 shares of the company's stock worth $598,000 after buying an additional 175 shares in the last quarter. Bragg Financial Advisors Inc raised its stake in shares of Knife River by 0.4% in the 4th quarter. Bragg Financial Advisors Inc now owns 45,365 shares of the company's stock worth $4,611,000 after buying an additional 185 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Knife River by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock worth $1,434,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Up 1.6%

NYSE KNF traded up $1.24 on Friday, reaching $80.61. The stock had a trading volume of 657,451 shares, compared to its average volume of 467,571. The business has a 50 day moving average price of $87.51 and a 200 day moving average price of $92.81. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. Knife River Corporation has a 1 year low of $67.22 and a 1 year high of $108.83. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 2.19 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings results 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). Knife River had a return on equity of 12.83% and a net margin of 6.18%. The company had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same quarter last year, the company posted ($0.84) EPS. The business's revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KNF has been the topic of a number of research reports. DA Davidson dropped their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. Wells Fargo & Company lifted their target price on Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada assumed coverage on Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Knife River presently has an average rating of "Buy" and a consensus 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.