Stifel Financial Corp Boosts Stock Holdings in Knife River Co. (NYSE:KNF)

Stifel Financial Corp lifted its stake in Knife River Co. (NYSE:KNF) by 36.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,495 shares of the company’s stock after buying an additional 11,839 shares during the period. Stifel Financial Corp owned approximately 0.08% of Knife River worth $3,977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KNF. Angeles Wealth Management LLC grew its holdings in Knife River by 1.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 8,500 shares of the company’s stock worth $760,000 after acquiring an additional 125 shares during the last quarter. Sittner & Nelson LLC grew its stake in shares of Knife River by 18.5% in the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after purchasing an additional 150 shares during the last quarter. Covestor Ltd increased its holdings in Knife River by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company’s stock valued at $115,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC raised its position in Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Finally, LVW Advisors LLC lifted its holdings in Knife River by 3.3% in the 3rd quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock worth $539,000 after buying an additional 195 shares during the period. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of Knife River stock opened at $106.51 on Tuesday. Knife River Co. has a 12 month low of $61.50 and a 12 month high of $107.96. The firm has a market capitalization of $6.03 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.90 and a beta of 0.70. 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 business has a fifty day simple moving average of $97.36 and a two-hundred day simple moving average of $83.81.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business earned $2.58 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. On average, equities analysts forecast that Knife River Co. will post 3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KNF has been the topic of several research analyst reports. 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 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. Finally, Oppenheimer raised their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday. 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.33.

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.