Envestnet Asset Management Inc. Has $3.01 Million Holdings in Knife River Corporation $KNF

Envestnet Asset Management Inc. cut its holdings in shares of Knife River Corporation (NYSE:KNF) by 15.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,133 shares of the company’s stock after selling 6,945 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Knife River worth $3,008,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KNF. Hantz Financial Services Inc. grew its holdings in shares of Knife River by 141.8% during the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Country Trust Bank acquired a new position in Knife River during the 2nd quarter worth about $40,000. Quent Capital LLC bought a new stake in Knife River during the 3rd quarter worth about $47,000. GHP Investment Advisors Inc. acquired a new stake in Knife River in the 2nd quarter valued at about $48,000. Finally, Huntington National Bank raised its stake in shares of Knife River by 35.5% in the second quarter. Huntington National Bank now owns 703 shares of the company’s stock worth $57,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 0.2%

Shares of Knife River stock opened at $88.73 on Thursday. The business has a fifty day simple moving average of $77.55 and a 200 day simple moving average of $75.59. The stock has a market cap of $5.03 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. 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 12 month low of $58.72 and a 12 month high of $103.18.

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

Analyst Ratings Changes

Several research firms have recently commented on KNF. Wells Fargo & Company cut shares of Knife River from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $75.00 to $81.00 in a research note on Wednesday, February 18th. Zacks Research raised Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen raised Knife River from a “sell” rating to a “hold” rating in a research note on Monday. UBS Group upgraded Knife River to an “overweight” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average price target of $96.43.

Knife River Profile

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.