Portside Wealth Group LLC Makes New $297,000 Investment in Knife River Co. (NYSE:KNF)

Portside Wealth Group LLC bought a new stake in Knife River Co. (NYSE:KNF - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,289 shares of the company's stock, valued at approximately $297,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KNF. Alliancebernstein L.P. raised its position in Knife River by 830.7% in 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 period. American Century Companies Inc. grew its stake in shares of Knife River by 1,200.8% during the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company's stock valued at $90,224,000 after buying an additional 819,439 shares during the last quarter. Norges Bank purchased a new stake in shares of Knife River in the fourth quarter worth approximately $66,631,000. Capital Research Global Investors raised its holdings in shares of Knife River by 45.2% in the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock worth $196,829,000 after buying an additional 603,170 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Knife River during the 4th quarter worth approximately $46,750,000. Hedge funds and other institutional investors own 80.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on KNF shares. Wells Fargo & Company upped their price objective on Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Stephens reissued an "overweight" rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $112.80.

Knife River Stock Down 1.0%

Shares of NYSE KNF opened at $91.97 on Friday. Knife River Co. has a 52-week low of $66.51 and a 52-week high of $108.83. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.36 and a beta of 0.96. The stock has a 50 day moving average price of $93.41 and a 200 day moving average price of $97.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results 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). Knife River had a net margin of 6.96% and a return on equity of 14.82%. The firm had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same period last year, the firm earned ($0.84) earnings per share. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts expect that Knife River Co. 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.

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