Citigroup Inc. Trims Holdings in Knife River Co. (NYSE:KNF)

Citigroup Inc. lessened its holdings in shares of Knife River Co. (NYSE:KNFFree Report) by 84.9% during the third quarter, Holdings Channel reports. The firm owned 2,842 shares of the company’s stock after selling 16,019 shares during the quarter. Citigroup Inc.’s holdings in Knife River were worth $139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sittner & Nelson LLC purchased a new position in shares of Knife River during the 2nd quarter worth approximately $27,000. Lazard Asset Management LLC purchased a new position in shares of Knife River during the 2nd quarter worth approximately $28,000. Quent Capital LLC purchased a new position in shares of Knife River during the 3rd quarter worth approximately $32,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Knife River during the 3rd quarter worth approximately $34,000. Finally, Fairfield Bush & CO. purchased a new stake in shares of Knife River in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KNF shares. Siebert Williams Shank upped their price target on Knife River from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Loop Capital started coverage on Knife River in a research note on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price target on the stock. Wolfe Research started coverage on Knife River in a research note on Friday, March 8th. They issued a “peer perform” rating on the stock. Bank of America started coverage on Knife River in a research note on Friday, January 5th. They issued a “buy” rating and a $81.00 price target on the stock. Finally, Oppenheimer upped their price target on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Knife River currently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

Check Out Our Latest Research Report on Knife River

Knife River Stock Performance

KNF stock opened at $81.08 on Friday. The stock’s 50 day simple moving average is $72.09 and its 200 day simple moving average is $62.32. The stock has a market capitalization of $4.59 billion and a PE ratio of -0.16. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. Knife River Co. has a 12-month low of $33.67 and a 12-month high of $81.38.

Knife River (NYSE:KNFGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. The firm had revenue of $646.90 million for the quarter, compared to analysts’ expectations of $566.47 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Knife River Co. will post 3.5 earnings per share for the current fiscal year.

Knife River Company Profile

(Free Report)

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.

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Institutional Ownership by Quarter for Knife River (NYSE:KNF)

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