3,289 Shares in Knife River Co. (NYSE:KNF) Acquired by Portside Wealth Group LLC

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

A number of other hedge funds have also recently modified their holdings of KNF. NBC Securities Inc. boosted its position in Knife River by 107,325.0% in the 1st quarter. NBC Securities Inc. now owns 4,297 shares of the company's stock worth $387,000 after purchasing an additional 4,293 shares in the last quarter. Rhumbline Advisers grew its position in Knife River by 2.5% during the first quarter. Rhumbline Advisers now owns 176,702 shares of the company's stock valued at $15,940,000 after buying an additional 4,234 shares during the period. Parallel Advisors LLC increased its holdings in Knife River by 74.9% in the first quarter. Parallel Advisors LLC now owns 628 shares of the company's stock valued at $57,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Knife River by 17,875.1% in the first quarter. GAMMA Investing LLC now owns 96,886 shares of the company's stock worth $8,740,000 after acquiring an additional 96,347 shares during the period. Finally, AdvisorNet Financial Inc raised its position in shares of Knife River by 7.7% in the first quarter. AdvisorNet Financial Inc now owns 6,078 shares of the company's stock worth $548,000 after acquiring an additional 433 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KNF. Wells Fargo & Company lifted 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. Stephens restated an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $112.80.

Knife River Price Performance

KNF stock traded up $0.63 during trading on Monday, hitting $92.91. The stock had a trading volume of 335,474 shares, compared to its average volume of 429,310. Knife River Co. has a twelve month low of $66.51 and a twelve month high of $108.83. The company's 50-day moving average price is $93.44 and its two-hundred day moving average price is $97.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a market capitalization of $5.26 billion, a P/E ratio of 26.25, a PEG ratio of 2.36 and a beta of 0.84.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly 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). Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $353.50 million for the quarter, compared to analysts' expectations of $343.98 million. During the same quarter in the previous year, the firm posted ($0.84) earnings per share. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts predict that Knife River Co. will post 4.11 EPS for the current fiscal year.

Knife River Profile

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.