Wealthfront Advisers LLC Takes Position in Knife River Co. (NYSE:KNF)

Wealthfront Advisers LLC purchased a new stake in shares of Knife River Co. (NYSE:KNF) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,326 shares of the company’s stock, valued at approximately $1,253,000.

A number of other hedge funds have also recently made changes to their positions in KNF. Atria Investments Inc boosted its stake in shares of Knife River by 26.9% during the third quarter. Atria Investments Inc now owns 5,258 shares of the company’s stock valued at $470,000 after purchasing an additional 1,116 shares in the last quarter. KBC Group NV boosted its holdings in Knife River by 23.1% in the third quarter. KBC Group NV now owns 1,763 shares of the company’s stock valued at $158,000 after acquiring an additional 331 shares during the last quarter. Huntington National Bank boosted its holdings in Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after acquiring an additional 293 shares during the last quarter. Royce & Associates LP bought a new stake in Knife River in the third quarter valued at approximately $1,028,000. Finally, RIA Advisory Group LLC bought a new stake in Knife River in the third quarter valued at approximately $302,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KNF shares. Oppenheimer increased their price target on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 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. Finally, Wells Fargo & Company began coverage on Knife River in a report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Knife River has a consensus rating of “Buy” and an average target price of $110.40.

Knife River Trading Up 5.8 %

NYSE KNF opened at $93.40 on Friday. The firm has a market capitalization of $5.29 billion, a P/E ratio of 26.38, a PEG ratio of 2.36 and a beta of 0.88. The business has a fifty day simple moving average of $98.48 and a 200 day simple moving average of $95.66. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. On average, analysts predict that Knife River Co. will post 4.11 EPS for the current fiscal year.

Knife River 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.