Quantinno Capital Management LP Increases Stake in Knife River Co. (NYSE:KNF)

Quantinno Capital Management LP grew its stake in shares of Knife River Co. (NYSE:KNF) by 9.1% in the third quarter, HoldingsChannel.com reports. The firm owned 5,677 shares of the company’s stock after buying an additional 475 shares during the quarter. Quantinno Capital Management LP’s holdings in Knife River were worth $507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KNF. Angeles Wealth Management LLC raised its holdings in Knife River by 1.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $760,000 after buying an additional 125 shares during the last quarter. Sittner & Nelson LLC raised its stake in shares of Knife River by 18.5% during the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after acquiring an additional 150 shares during the last quarter. Covestor Ltd raised its stake in shares of Knife River by 13.2% during the third quarter. Covestor Ltd now owns 1,288 shares of the company’s stock valued at $115,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Knife River by 129.4% during the third 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. Finally, LVW Advisors LLC grew its stake in shares of Knife River by 3.3% in the third quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock worth $539,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on KNF shares. DA Davidson upped their price target on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer raised their price target on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Loop Capital reduced their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.33.

Knife River Price Performance

Shares of KNF stock opened at $102.31 on Friday. The business’s fifty day moving average is $97.36 and its 200 day moving average is $83.72. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 2.90 and a beta of 0.70. Knife River Co. has a twelve month low of $61.50 and a twelve month high of $107.96.

Knife River (NYSE:KNF) last released 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). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts expect that Knife River Co. will post 3.49 EPS for the current fiscal year.

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.