Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Knife River Co. (NYSE:KNF)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Knife River Co. (NYSE:KNF) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,624 shares of the company’s stock after buying an additional 996 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Knife River were worth $1,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank grew its position in shares of Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after buying an additional 293 shares during the period. Larson Financial Group LLC boosted its stake in Knife River by 58.6% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after acquiring an additional 157 shares in the last quarter. GAMMA Investing LLC grew its holdings in Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after purchasing an additional 227 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Knife River during the third quarter valued at approximately $60,000. Finally, KBC Group NV lifted its holdings in shares of Knife River by 23.1% during the third quarter. KBC Group NV now owns 1,763 shares of the company’s stock valued at $158,000 after purchasing an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

Shares of NYSE KNF opened at $95.57 on Thursday. The company has a 50 day moving average of $98.16 and a 200 day moving average of $96.00. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83. The firm has a market cap of $5.41 billion, a P/E ratio of 27.00, a PEG ratio of 2.36 and a beta of 0.88.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $655.80 million. As a group, research analysts expect that Knife River Co. will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KNF shares. Wells Fargo & Company started coverage on Knife River in a research note on Monday, March 10th. They issued an “overweight” rating and a $102.00 price target on the stock. Oppenheimer boosted their target price on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Stephens restated an “overweight” rating and set a $120.00 price target 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, the company currently has an average rating of “Buy” and a consensus target price of $110.40.

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.