Mackenzie Financial Corp Buys New Shares in Knife River Co. (NYSE:KNF)

Mackenzie Financial Corp purchased a new position in shares of Knife River Co. (NYSE:KNF) in the fourth quarter, HoldingsChannel reports. The fund purchased 3,247 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its stake in shares of Knife River by 87.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock worth $2,408,000 after acquiring an additional 23,022 shares during the period. Quadrature Capital Ltd purchased a new stake in Knife River in the third quarter valued at $893,000. Vanguard Group Inc. grew its position in Knife River by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company’s stock worth $270,532,000 after purchasing an additional 46,737 shares during the period. Planned Solutions Inc. purchased a new position in shares of Knife River during the 4th quarter valued at about $53,000. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Knife River by 19.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after buying an additional 184,192 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KNF shares. Loop Capital began coverage on Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price target for the company. Wolfe Research started coverage on shares of Knife River in a research note on Friday, March 8th. They issued a “peer perform” rating for the company. Oppenheimer increased their price target on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Bank of America initiated coverage on shares of Knife River in a report on Friday, January 5th. They issued a “buy” rating and a $81.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.20.

Knife River Trading Up 1.3 %

Shares of NYSE:KNF opened at $79.24 on Tuesday. The business’s 50 day moving average price is $77.04 and its 200-day moving average price is $66.70. Knife River Co. has a 1 year low of $33.67 and a 1 year high of $83.78. The firm has a market capitalization of $4.49 billion and a price-to-earnings ratio of -0.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.63 and a quick ratio of 1.71.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. Knife River had a net margin of 6.46% and a return on equity of 15.98%. The company had revenue of $646.90 million during the quarter, compared to analysts’ expectations of $566.47 million. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that Knife River Co. will post 3.5 earnings per share for the current fiscal 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.