Congress Asset Management Co. Cuts Stock Holdings in Knife River Corporation $KNF

Congress Asset Management Co. lessened its holdings in Knife River Corporation (NYSE:KNF) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 700,780 shares of the company’s stock after selling 65,623 shares during the quarter. Congress Asset Management Co. owned 1.24% of Knife River worth $49,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in shares of Knife River by 141.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the period. Country Trust Bank purchased a new stake in shares of Knife River in the second quarter valued at approximately $40,000. Quent Capital LLC acquired a new position in Knife River during the third quarter worth $47,000. GAMMA Investing LLC raised its position in Knife River by 34.8% in the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock worth $48,000 after acquiring an additional 177 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Knife River by 124.5% in the third quarter. UMB Bank n.a. now owns 743 shares of the company’s stock worth $57,000 after acquiring an additional 412 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

KNF has been the topic of several research analyst reports. Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a report on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on shares of Knife River from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. boosted their price objective on shares of Knife River from $83.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded shares of Knife River from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and an average price target of $97.43.

Knife River Trading Up 4.9%

Shares of KNF stock opened at $84.90 on Tuesday. The stock has a market cap of $4.81 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.82 and a beta of 0.26. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $103.18. The business has a fifty day simple moving average of $80.85 and a 200-day simple moving average of $75.10.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The business had revenue of $755.06 million for the quarter, compared to analyst estimates of $726.60 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.