Drive Wealth Management LLC Makes New $2.06 Million Investment in Knife River Co. (NYSE:KNF)

Drive Wealth Management LLC purchased a new position in shares of Knife River Co. (NYSE:KNF) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 20,284 shares of the company’s stock, valued at approximately $2,062,000.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Huntington National Bank boosted its position in shares of Knife River by 586.0% during the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after purchasing an additional 293 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Knife River during the 2nd quarter worth about $43,000. Harvest Fund Management Co. Ltd bought a new position in shares of Knife River during the 3rd quarter worth about $60,000. Finally, Sittner & Nelson LLC boosted its position in shares of Knife River by 18.5% during the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after purchasing an additional 150 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KNF shares. DA Davidson increased their price objective on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Loop Capital cut 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 price target on shares of Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.75.

Knife River Price Performance

Knife River stock opened at $104.81 on Monday. The company’s 50 day moving average price is $102.29 and its two-hundred day moving average price is $90.62. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. Knife River Co. has a 52 week low of $63.72 and a 52 week high of $108.83. The stock has a market cap of $5.93 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.47 and a beta of 0.78.

Knife River (NYSE:KNF) last released its quarterly earnings data 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 net margin of 6.89% and a return on equity of 15.22%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts predict that Knife River Co. will post 3.49 earnings per share for the current year.

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.