Edgestream Partners L.P. Invests $5.94 Million in Knife River Corporation $KNF

Edgestream Partners L.P. bought a new stake in Knife River Corporation (NYSE:KNF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 72,728 shares of the company’s stock, valued at approximately $5,938,000. Edgestream Partners L.P. owned approximately 0.13% of Knife River at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KNF. Brady Martz Wealth Solutions LLC raised its stake in shares of Knife River by 2.3% in the 2nd quarter. Brady Martz Wealth Solutions LLC now owns 6,786 shares of the company’s stock valued at $554,000 after buying an additional 152 shares in the last quarter. Unified Investment Management increased its stake in Knife River by 2.6% in the second quarter. Unified Investment Management now owns 5,968 shares of the company’s stock valued at $487,000 after acquiring an additional 153 shares during the period. Focus Partners Advisor Solutions LLC raised its position in Knife River by 2.0% in the first quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company’s stock worth $722,000 after purchasing an additional 159 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Knife River by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 13,292 shares of the company’s stock worth $1,085,000 after purchasing an additional 167 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Knife River by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,497 shares of the company’s stock valued at $367,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Up 0.3%

Shares of NYSE:KNF opened at $74.02 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.19 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.50 and a beta of 0.43. Knife River Corporation has a 12 month low of $58.72 and a 12 month high of $108.83. The company’s 50-day moving average price is $68.96 and its two-hundred day moving average price is $79.05.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a net margin of 4.87% and a return on equity of 9.97%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. As a group, research analysts forecast that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. DA Davidson dropped their target price on Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Wall Street Zen cut Knife River from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada cut their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Oppenheimer reduced their target price on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group upgraded shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

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.