KBC Group NV Grows Stock Holdings in Knife River Co. (NYSE:KNF)

KBC Group NV raised its stake in shares of Knife River Co. (NYSE:KNF) by 23.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,763 shares of the company’s stock after purchasing an additional 331 shares during the quarter. KBC Group NV’s holdings in Knife River were worth $158,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of Knife River by 796.9% during the 1st quarter. Acadian Asset Management LLC now owns 31,103 shares of the company’s stock worth $2,518,000 after acquiring an additional 27,635 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Knife River in the 1st quarter valued at approximately $819,000. Seven Eight Capital LP acquired a new position in shares of Knife River in the first quarter worth $593,000. Gabelli Funds LLC grew its stake in shares of Knife River by 0.6% in the first quarter. Gabelli Funds LLC now owns 79,200 shares of the company’s stock worth $6,422,000 after acquiring an additional 500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Knife River by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,954 shares of the company’s stock worth $2,591,000 after purchasing an additional 2,194 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Price Performance

KNF stock opened at $98.30 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. Knife River Co. has a 52-week low of $56.94 and a 52-week high of $103.33. The stock’s 50 day moving average is $91.89 and its two-hundred day moving average is $80.25. The company has a market capitalization of $5.56 billion, a PE ratio of 28.17, a P/E/G ratio of 2.53 and a beta of 0.74.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. Analysts predict that Knife River Co. will post 3.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KNF shares. Oppenheimer boosted their price target on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Loop Capital cut their price target on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, DA Davidson lifted their price objective on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Knife River presently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River Company 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.