Gallo Partners LP Takes $2.75 Million Position in Knife River Co. (NYSE:KNF)

Gallo Partners LP purchased a new stake in shares of Knife River Co. (NYSE:KNF - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 27,072 shares of the company's stock, valued at approximately $2,752,000. Knife River makes up 2.0% of Gallo Partners LP's investment portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in KNF. Larson Financial Group LLC increased its position in shares of Knife River by 58.6% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $43,000 after acquiring an additional 157 shares during the period. GAMMA Investing LLC increased its holdings in shares of Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock valued at $55,000 after purchasing an additional 227 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Knife River in the fourth quarter worth about $79,000. Lee Danner & Bass Inc. acquired a new stake in shares of Knife River during the fourth quarter worth about $109,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in Knife River in the fourth quarter valued at approximately $114,000. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Price Performance

Shares of Knife River stock traded up $2.30 during trading hours on Friday, reaching $96.22. 457,582 shares of the company's stock were exchanged, compared to its average volume of 423,931. The business has a fifty day moving average of $91.28 and a two-hundred day moving average of $97.24. The company has a market capitalization of $5.45 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. As a group, research analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KNF. Stephens reissued an "overweight" rating and set a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company assumed coverage on Knife River in a report on Monday, March 10th. They issued an "overweight" rating and a $102.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $110.40.

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.