Texas Permanent School Fund Corp Grows Stock Position in Knife River Co. (NYSE:KNF)

Texas Permanent School Fund Corp boosted its stake in shares of Knife River Co. (NYSE:KNF) by 1.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 49,506 shares of the company’s stock after buying an additional 642 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Knife River worth $4,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in Knife River in the fourth quarter worth $35,000. TFO Wealth Partners LLC increased its stake in Knife River by 38,250.0% in the fourth quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock worth $51,000 after purchasing an additional 765 shares during the period. Planned Solutions Inc. purchased a new stake in Knife River in the fourth quarter worth $53,000. Anchor Investment Management LLC purchased a new stake in Knife River in the fourth quarter worth $149,000. Finally, Horan Capital Advisors LLC. purchased a new stake in Knife River in the first quarter worth $203,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

KNF opened at $76.55 on Friday. Knife River Co. has a 12-month low of $42.35 and a 12-month high of $83.78. The business’s fifty day simple moving average is $72.01 and its 200-day simple moving average is $72.20. The company has a market capitalization of $4.33 billion and a price-to-earnings ratio of 24.69. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The business had revenue of $329.60 million during the quarter, compared to analyst estimates of $300.98 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. Knife River’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($516.50) EPS. On average, equities research analysts anticipate that Knife River Co. will post 3.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on KNF shares. Oppenheimer increased their target price on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Stephens began coverage on Knife River in a research report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.67.

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.