Teacher Retirement System of Texas decreased its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 38.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,677 shares of the company's stock after selling 34,956 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of Knife River worth $5,113,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Knife River in the first quarter valued at about $26,000. State of Wyoming bought a new stake in shares of Knife River during the 4th quarter valued at $30,000. Versant Capital Management Inc raised its holdings 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. Larson Financial Group LLC raised its holdings 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, Bessemer Group Inc. increased its holdings in Knife River by 173.9% in the 1st quarter. Bessemer Group Inc. now owns 545 shares of the company's stock worth $49,000 after purchasing an additional 346 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on KNF shares. Royal Bank Of Canada initiated coverage on Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target for the company. DA Davidson decreased their target price on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company raised their target price on Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Knife River currently has a consensus rating of "Buy" and an average price target of $117.17.
Check Out Our Latest Stock Analysis on Knife River
Knife River Stock Down 2.4%
KNF stock traded down $1.95 during mid-day trading on Friday, reaching $78.82. 652,617 shares of the company traded hands, compared to its average volume of 464,008. The company has a quick ratio of 1.49, a current ratio of 2.94 and a debt-to-equity ratio of 0.82. The firm's 50 day moving average price is $89.02 and its 200 day moving average price is $93.65. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.21 and a beta of 0.63. Knife River Corporation has a fifty-two week low of $67.22 and a fifty-two week high of $108.83.
Knife River (NYSE:KNF - Get Free Report) last announced its 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 net margin of 6.18% and a return on equity of 12.83%. The company had revenue of $353.50 million for the quarter, compared to analysts' expectations of $343.98 million. During the same period in the previous year, the firm earned ($0.84) EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.
About Knife River
(
Free Report)
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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