SeaCrest Wealth Management LLC Sells 1,651 Shares of Knife River Co. (NYSE:KNF)

SeaCrest Wealth Management LLC lowered its stake in shares of Knife River Co. (NYSE:KNF) by 32.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,476 shares of the company’s stock after selling 1,651 shares during the period. SeaCrest Wealth Management LLC’s holdings in Knife River were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KNF. LPL Financial LLC increased its position in Knife River by 6.0% in the third quarter. LPL Financial LLC now owns 77,296 shares of the company’s stock worth $3,774,000 after purchasing an additional 4,409 shares during the last quarter. Stifel Financial Corp increased its position in Knife River by 6.0% in the third quarter. Stifel Financial Corp now owns 41,034 shares of the company’s stock worth $2,004,000 after purchasing an additional 2,312 shares during the last quarter. Northern Trust Corp increased its position in Knife River by 4.6% in the third quarter. Northern Trust Corp now owns 610,212 shares of the company’s stock worth $29,797,000 after purchasing an additional 26,757 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Knife River in the third quarter worth $893,000. Finally, Glenmede Trust Co. NA bought a new stake in Knife River in the third quarter worth $539,000. Institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KNF shares. Oppenheimer boosted their price target on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Stephens started coverage on shares of Knife River in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target on the stock. Finally, Wolfe Research started coverage on shares of Knife River in a research report on Friday, March 8th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Knife River Trading Up 2.0 %

KNF stock opened at $70.73 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.75 and a debt-to-equity ratio of 0.55. Knife River Co. has a twelve month low of $41.53 and a twelve month high of $83.78. The stock has a market capitalization of $4.00 billion and a price-to-earnings ratio of 22.82. The firm’s fifty day simple moving average is $72.79 and its two-hundred day simple moving average is $71.87.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.04). The company had revenue of $329.60 million for the quarter, compared to analysts’ expectations of $300.98 million. Knife River had a net margin of 6.19% and a return on equity of 14.65%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($516.50) earnings per share. As a group, analysts anticipate that Knife River Co. will post 3.52 earnings per share for the current 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.