Knife River Corporation (NYSE:KNF) Stock Position Decreased by Register Financial Advisors LLC

Register Financial Advisors LLC cut its stake in Knife River Corporation (NYSE:KNF - Free Report) by 19.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KNF. Alliancebernstein L.P. boosted its position 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 valued at $111,965,000 after purchasing an additional 983,223 shares in the last quarter. American Century Companies Inc. lifted its stake in 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 purchasing an additional 819,439 shares during the last quarter. Norges Bank bought a new stake in Knife River during the fourth quarter worth approximately $66,631,000. Capital Research Global Investors grew its position in 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 last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Knife River during the 4th quarter valued at $46,750,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Up 4.6%

Knife River stock traded up $3.72 during mid-day trading on Tuesday, hitting $84.78. The company's stock had a trading volume of 1,161,673 shares, compared to its average volume of 454,018. Knife River Corporation has a 52-week low of $67.22 and a 52-week high of $108.83. The company has a market cap of $4.80 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 2.04 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49. The firm's 50 day moving average is $92.08 and its 200 day moving average is $95.71.

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

Wall Street Analyst Weigh In

KNF has been the topic of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 target price on the stock. Wells Fargo & Company upped their price objective on shares of Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, DA Davidson dropped their target price on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $117.17.

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.