Invesco Ltd. Boosts Stock Position in Knife River Co. (NYSE:KNF)

Invesco Ltd. increased its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 83.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 879,796 shares of the company's stock after purchasing an additional 400,954 shares during the quarter. Invesco Ltd. owned 1.55% of Knife River worth $89,422,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Knife River by 90.6% during the third quarter. FMR LLC now owns 12,091 shares of the company's stock worth $1,081,000 after buying an additional 5,746 shares during the period. HighTower Advisors LLC raised its holdings in shares of Knife River by 3.1% in the 3rd quarter. HighTower Advisors LLC now owns 8,500 shares of the company's stock valued at $756,000 after purchasing an additional 258 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Knife River by 9.1% during the 3rd quarter. Quantinno Capital Management LP now owns 5,677 shares of the company's stock worth $507,000 after purchasing an additional 475 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Knife River by 36.3% during the third quarter. Stifel Financial Corp now owns 44,495 shares of the company's stock worth $3,977,000 after purchasing an additional 11,839 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in Knife River by 7.6% in the third quarter. Orion Portfolio Solutions LLC now owns 3,446 shares of the company's stock valued at $308,000 after buying an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Stock Performance

Shares of Knife River stock traded down $1.40 on Friday, hitting $91.67. The stock had a trading volume of 330,013 shares, compared to its average volume of 418,951. The company's 50 day moving average price is $92.92 and its 200 day moving average price is $97.00. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 2.36 and a beta of 0.97. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share 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 analysts' expectations of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. On average, research analysts anticipate that Knife River Co. will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.