Wealthfront Advisers LLC Invests $1.25 Million in Knife River Co. (NYSE:KNF)

Wealthfront Advisers LLC purchased a new position in shares of Knife River Co. (NYSE:KNF) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 12,326 shares of the company’s stock, valued at approximately $1,253,000.

Several other large investors have also added to or reduced their stakes in KNF. State Street Corp boosted its position in shares of Knife River by 1.8% during the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after acquiring an additional 34,646 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Knife River by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock valued at $119,561,000 after acquiring an additional 26,198 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Knife River by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after acquiring an additional 5,791 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of Knife River by 2.5% during the 4th quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock valued at $70,766,000 after acquiring an additional 16,698 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Knife River by 2.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 660,225 shares of the company’s stock valued at $59,017,000 after acquiring an additional 13,490 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

Shares of Knife River stock opened at $93.40 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The business’s 50 day simple moving average is $98.48 and its two-hundred day simple moving average is $95.66. The stock has a market capitalization of $5.29 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. Knife River Co. has a one year low of $66.13 and a one year high of $108.83.

Knife River (NYSE:KNF) last posted its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. Analysts forecast that Knife River Co. will post 4.11 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on KNF shares. Wells Fargo & Company started coverage on Knife River in a research report on Monday, March 10th. They set an “overweight” rating and a $102.00 price target for the company. Oppenheimer raised their price objective on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Stephens reissued an “overweight” rating and set a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $110.40.

Knife River 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.