Knife River Co. (NYSE:KNF) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in shares of Knife River Co. (NYSE:KNF - Free Report) by 67.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,202 shares of the company's stock after selling 235,339 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.20% of Knife River worth $7,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KNF. Cascade Investment Advisors Inc. lifted its holdings in Knife River by 1.4% in the fourth quarter. Cascade Investment Advisors Inc. now owns 16,157 shares of the company's stock valued at $1,069,000 after acquiring an additional 225 shares during the period. Victory Capital Management Inc. lifted its holdings in Knife River by 2.9% in the third quarter. Victory Capital Management Inc. now owns 9,441 shares of the company's stock valued at $461,000 after acquiring an additional 265 shares during the period. CWM LLC lifted its holdings in Knife River by 18.7% in the third quarter. CWM LLC now owns 1,986 shares of the company's stock valued at $97,000 after acquiring an additional 313 shares during the period. Private Advisor Group LLC lifted its holdings in Knife River by 3.5% in the third quarter. Private Advisor Group LLC now owns 11,496 shares of the company's stock valued at $561,000 after acquiring an additional 394 shares during the period. Finally, Swiss National Bank lifted its holdings in Knife River by 0.4% in the third quarter. Swiss National Bank now owns 105,698 shares of the company's stock valued at $5,161,000 after acquiring an additional 400 shares during the period. 80.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

KNF has been the topic of a number of recent research reports. Bank of America initiated coverage on Knife River in a report on Friday, January 5th. They issued a "buy" rating and a $81.00 target price on the stock. Siebert Williams Shank lifted their price objective on Knife River from $65.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, December 26th. Loop Capital assumed coverage on Knife River in a research report on Tuesday, February 13th. They set a "buy" rating and a $81.00 price objective on the stock. Wolfe Research assumed coverage on Knife River in a research report on Friday, March 8th. They set a "peer perform" rating on the stock. Finally, Oppenheimer lifted their price objective on Knife River from $75.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, March 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Knife River currently has an average rating of "Moderate Buy" and a consensus price target of $76.20.

Knife River Price Performance

KNF traded down $2.27 on Thursday, hitting $75.81. 392,084 shares of the company's stock traded hands, compared to its average volume of 393,177. The company's 50 day simple moving average is $75.64 and its 200-day simple moving average is $65.07. The firm has a market cap of $4.29 billion and a price-to-earnings ratio of -0.15. Knife River Co. has a one year low of $33.67 and a one year high of $83.78. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The company had revenue of $646.90 million for the quarter, compared to the consensus estimate of $566.47 million. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that Knife River Co. will post 3.5 EPS for the current 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 six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.