Register Financial Advisors LLC Trims Stake in Knife River Corporation (NYSE:KNF)

Register Financial Advisors LLC lowered its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 19.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 16,679 shares of the company's stock after selling 4,099 shares during the period. Register Financial Advisors LLC's holdings in Knife River were worth $1,505,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new position in shares of Knife River during the 1st quarter worth approximately $26,000. Versant Capital Management Inc lifted its position in shares of Knife River by 501.9% during the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after buying an additional 271 shares in the last quarter. State of Wyoming bought a new position in shares of Knife River during the 4th quarter worth approximately $30,000. Larson Financial Group LLC lifted its position in shares of Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock worth $43,000 after buying an additional 157 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Knife River by 239.5% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the company's stock worth $51,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on KNF shares. Wells Fargo & Company lifted their target price on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada started coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Finally, DA Davidson lowered their price target 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 analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $117.17.

Knife River Stock Performance

KNF stock traded down $1.60 during midday trading on Friday, reaching $77.48. 1,133,127 shares of the company's stock traded hands, compared to its average volume of 449,367. The company has a 50-day moving average price of $92.34 and a two-hundred day moving average price of $95.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 2.94. Knife River Corporation has a 52 week low of $67.22 and a 52 week high of $108.83. The firm has a market capitalization of $4.39 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 2.04 and a beta of 0.84.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). Knife River had a net margin of 6.18% and a return on equity of 12.83%. The business had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same period in the previous year, the firm earned ($0.84) EPS. The company's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Knife River Corporation will post 4.11 EPS 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.