Granahan Investment Management LLC Buys 42,720 Shares of Knife River Co. (NYSE:KNF)

Granahan Investment Management LLC grew its position in Knife River Co. (NYSE:KNF - Free Report) by 35.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 161,577 shares of the company's stock after acquiring an additional 42,720 shares during the period. Granahan Investment Management LLC owned 0.29% of Knife River worth $16,423,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in KNF. Larson Financial Group LLC boosted 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 valued at $43,000 after purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock worth $55,000 after purchasing an additional 227 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Knife River during the fourth quarter worth about $79,000. Lee Danner & Bass Inc. purchased a new stake in shares of Knife River during the fourth quarter worth about $109,000. Finally, Physician Wealth Advisors Inc. acquired a new position in Knife River in the 4th quarter valued at about $114,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KNF shares. Stephens reissued an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company increased their price target on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $112.80.

Knife River Stock Up 3.3%

Shares of KNF traded up $3.32 during mid-day trading on Tuesday, reaching $102.88. 712,732 shares of the stock traded hands, compared to its average volume of 431,958. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $91.56 and a 200 day simple moving average of $97.33. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 2.36 and a beta of 0.96. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $353.50 million during the quarter, compared to analyst estimates of $343.98 million. During the same period in the previous year, the company posted ($0.84) earnings per share. Knife River's revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Knife River Co. will post 4.11 EPS for the current fiscal 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.