Swiss National Bank Grows Position in Knife River Corporation (NYSE:KNF)

Swiss National Bank lifted its holdings in shares of Knife River Corporation (NYSE:KNF) by 3.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 109,698 shares of the company’s stock after acquiring an additional 3,900 shares during the quarter. Swiss National Bank’s holdings in Knife River were worth $9,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Knife River during the first quarter valued at $26,000. Versant Capital Management Inc boosted its position in shares of Knife River by 501.9% during the first quarter. Versant Capital Management Inc now owns 325 shares of the company’s stock valued at $29,000 after buying an additional 271 shares during the last quarter. State of Wyoming purchased a new stake in shares of Knife River during the fourth quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Knife River during the first quarter valued at $35,000. Finally, Bessemer Group Inc. boosted its position in shares of Knife River by 173.9% during the first quarter. Bessemer Group Inc. now owns 545 shares of the company’s stock valued at $49,000 after buying an additional 346 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Trading Down 1.0%

Shares of NYSE:KNF opened at $90.06 on Friday. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 6.63 and a beta of 0.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. The stock’s 50-day simple moving average is $83.02 and its two-hundred day simple moving average is $90.61. Knife River Corporation has a 52-week low of $73.91 and a 52-week high of $108.83.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a return on equity of 10.58% and a net margin of 5.20%. The company had revenue of $833.80 million during the quarter, compared to the consensus estimate of $902.26 million. During the same period last year, the business earned $1.37 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts expect that Knife River Corporation will post 4.11 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on KNF shares. Royal Bank Of Canada started coverage on Knife River in a research report on Monday, June 16th. They set an “outperform” rating and a $129.00 price objective on the stock. Wells Fargo & Company raised their target price on Knife River from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Finally, DA Davidson dropped their target price on Knife River from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $114.33.

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.