Janus Henderson Group PLC Acquires 3,382 Shares of Knife River Co. (NYSE:KNF)

Janus Henderson Group PLC lifted its holdings in shares of Knife River Co. (NYSE:KNF) by 15.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,970 shares of the company’s stock after purchasing an additional 3,382 shares during the period. Janus Henderson Group PLC’s holdings in Knife River were worth $2,323,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares during the period. Huntington National Bank raised its stake in shares of Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Knife River in the second quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Knife River in the second quarter valued at $43,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Knife River in the third quarter valued at $60,000. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Performance

Knife River stock opened at $105.22 on Friday. The firm’s 50 day simple moving average is $97.10 and its 200 day simple moving average is $83.43. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.96 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.89 and a beta of 0.70. Knife River Co. has a 1-year low of $61.50 and a 1-year high of $107.96.

Knife River (NYSE:KNF) last posted its 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 for the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. As a group, analysts expect that Knife River Co. will post 3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on KNF shares. DA Davidson boosted their target price on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Loop Capital lowered their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Oppenheimer boosted their target price on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

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.