Wealth Enhancement Advisory Services LLC Grows Stake in Knife River Co. (NYSE:KNF)

Wealth Enhancement Advisory Services LLC raised its stake in Knife River Co. (NYSE:KNF) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,597 shares of the company’s stock after purchasing an additional 689 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Knife River were worth $772,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position in Knife River by 45.2% in the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after purchasing an additional 603,170 shares during the period. Alliancebernstein L.P. increased its position in shares of Knife River by 830.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after acquiring an additional 983,223 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of Knife River by 1.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company’s stock worth $105,121,000 after acquiring an additional 17,234 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Knife River by 3.7% during the fourth quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company’s stock worth $99,934,000 after acquiring an additional 34,747 shares during the last quarter. Finally, Hood River Capital Management LLC increased its position in shares of Knife River by 4.3% during the fourth quarter. Hood River Capital Management LLC now owns 906,534 shares of the company’s stock worth $92,140,000 after acquiring an additional 37,431 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Knife River Stock Up 0.7%

NYSE:KNF opened at $92.91 on Tuesday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. Knife River Co. has a one year low of $66.51 and a one year high of $108.83. The stock has a 50-day simple moving average of $93.44 and a 200 day simple moving average of $97.29. 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). The firm had revenue of $353.50 million during the quarter, compared to analyst estimates of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.84) earnings per share. Sell-side analysts predict that Knife River Co. will post 4.11 EPS for the current fiscal year.

Knife River Company 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.