California Public Employees Retirement System Increases Holdings in Knife River Co. (NYSE:KNF)

California Public Employees Retirement System boosted its position in Knife River Co. (NYSE:KNF) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,956 shares of the company’s stock after buying an additional 10,403 shares during the period. California Public Employees Retirement System’s holdings in Knife River were worth $6,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its holdings in Knife River by 87.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock worth $2,408,000 after buying an additional 23,022 shares during the period. Quadrature Capital Ltd acquired a new position in Knife River in the 3rd quarter worth approximately $893,000. Vanguard Group Inc. increased its holdings in Knife River by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company’s stock worth $270,532,000 after buying an additional 46,737 shares during the period. Planned Solutions Inc. acquired a new position in Knife River in the 4th quarter worth approximately $53,000. Finally, Schonfeld Strategic Advisors LLC increased its holdings in Knife River by 19.7% in the 3rd 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 period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analysts Set New Price Targets

KNF has been the topic of a number of analyst reports. Oppenheimer raised their price objective on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Loop Capital initiated coverage on shares of Knife River in a research note on Tuesday, February 13th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Wolfe Research initiated coverage on shares of Knife River in a research note on Friday, March 8th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.20.

Knife River Stock Up 0.0 %

NYSE KNF opened at $78.99 on Friday. Knife River Co. has a 52 week low of $33.67 and a 52 week high of $83.78. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $77.61 and its 200-day simple moving average is $67.31. The firm has a market cap of $4.47 billion and a PE ratio of -0.15.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) 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 analyst estimates of $566.47 million. Knife River had a net margin of 6.46% and a return on equity of 15.98%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that Knife River Co. will post 3.5 earnings per share for the current 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.