Hsbc Holdings PLC Purchases New Stake in Knife River Co. (NYSE:KNF)

Hsbc Holdings PLC bought a new position in shares of Knife River Co. (NYSE:KNF - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 61,642 shares of the company's stock, valued at approximately $6,292,000. Hsbc Holdings PLC owned approximately 0.11% of Knife River as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in KNF. Barclays PLC lifted its position in shares of Knife River by 156.2% during the 3rd quarter. Barclays PLC now owns 170,101 shares of the company's stock worth $15,205,000 after buying an additional 103,713 shares during the last quarter. Tidal Investments LLC raised its stake in Knife River by 125.7% during the 3rd quarter. Tidal Investments LLC now owns 9,623 shares of the company's stock worth $860,000 after acquiring an additional 5,360 shares in the last quarter. Franklin Resources Inc. lifted its position in Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock valued at $38,201,000 after acquiring an additional 39,991 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Knife River by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company's stock valued at $18,695,000 after acquiring an additional 49,785 shares in the last quarter. Finally, GAMMA Investing LLC grew 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. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KNF. Wells Fargo & Company assumed coverage on Knife River in a research report on Monday, March 10th. They issued an "overweight" rating and a $102.00 target price for the company. Stephens reissued an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $110.40.

Knife River Stock Performance

Shares of NYSE KNF traded up $2.30 during midday trading on Friday, reaching $96.22. 457,582 shares of the company were exchanged, compared to its average volume of 423,931. The stock has a fifty day simple moving average of $91.28 and a 200 day simple moving average of $97.26. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The stock has a market cap of $5.45 billion, a P/E ratio of 27.18, a PEG ratio of 2.36 and a beta of 0.96. 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 earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. On average, research analysts forecast that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

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.