Knife River Co. (NYSE:KNF) Stake Reduced by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Knife River Co. (NYSE:KNF) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,500 shares of the company’s stock after selling 1,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Knife River were worth $2,190,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Knife River by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,954 shares of the company’s stock valued at $2,591,000 after purchasing an additional 2,194 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Knife River by 3.1% in the first quarter. Public Employees Retirement System of Ohio now owns 13,026 shares of the company’s stock worth $1,056,000 after acquiring an additional 395 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Knife River by 78.3% during the first quarter. Tidal Investments LLC now owns 6,212 shares of the company’s stock valued at $504,000 after acquiring an additional 2,728 shares during the period. Comerica Bank lifted its position in shares of Knife River by 59.2% in the 1st quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after acquiring an additional 15,848 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Knife River in the 1st quarter valued at approximately $9,730,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson boosted their target price on shares of 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 dropped their price target on 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 objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River Price Performance

Shares of KNF opened at $103.50 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The firm has a market cap of $5.86 billion, a PE ratio of 29.66, a PEG ratio of 2.76 and a beta of 0.74. The firm’s 50 day moving average price is $94.40 and its 200 day moving average price is $81.59. Knife River Co. has a twelve month low of $58.92 and a twelve month high of $105.63.

Knife River (NYSE:KNF) last released its quarterly earnings results 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). The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 EPS. As a group, research analysts expect that Knife River Co. will post 3.57 EPS for the current fiscal year.

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.