Bank of America Corp DE Sells 22,672 Shares of Knife River Co. (NYSE:KNF)

Bank of America Corp DE cut its stake in Knife River Co. (NYSE:KNF) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,774 shares of the company’s stock after selling 22,672 shares during the period. Bank of America Corp DE owned 0.22% of Knife River worth $12,580,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new stake in Knife River in the fourth quarter valued at approximately $2,703,000. Drive Wealth Management LLC bought a new stake in Knife River in the fourth quarter valued at approximately $2,062,000. Congress Asset Management Co. boosted its holdings in Knife River by 2.5% in the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock valued at $70,766,000 after acquiring an additional 16,698 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Knife River during the 4th quarter worth approximately $14,600,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Knife River by 15.1% during the 4th quarter. Wells Fargo & Company MN now owns 60,940 shares of the company’s stock worth $6,194,000 after buying an additional 7,975 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Price Performance

Knife River stock opened at $96.70 on Friday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.36 and a beta of 0.96. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The stock’s 50 day moving average price is $93.15 and its two-hundred day moving average price is $97.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same quarter in the previous year, the company posted ($0.84) earnings per share. Knife River’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts predict that Knife River Co. will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on KNF. Wells Fargo & Company increased their price target on Knife River from $102.00 to $114.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Stephens restated an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $112.80.

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.