Knife River Co. (NYSE:KNF) Stake Lowered by MIG Capital LLC

MIG Capital LLC decreased its stake in Knife River Co. (NYSE:KNF) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 561,163 shares of the company’s stock after selling 83,763 shares during the period. Knife River makes up 5.9% of MIG Capital LLC’s investment portfolio, making the stock its 6th largest holding. MIG Capital LLC’s holdings in Knife River were worth $57,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of Knife River by 0.8% during the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock valued at $1,586,000 after acquiring an additional 124 shares during the period. Larson Financial Group LLC raised its holdings in Knife River by 58.6% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares during the last quarter. Private Advisor Group LLC boosted its position in Knife River by 1.1% during the fourth quarter. Private Advisor Group LLC now owns 15,696 shares of the company’s stock worth $1,595,000 after purchasing an additional 170 shares in the last quarter. Natixis Advisors LLC grew its holdings in Knife River by 1.6% in the fourth quarter. Natixis Advisors LLC now owns 13,244 shares of the company’s stock valued at $1,346,000 after purchasing an additional 203 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in shares of Knife River by 6.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 3,670 shares of the company’s stock valued at $373,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Trading Down 7.3 %

Shares of Knife River stock opened at $83.98 on Friday. The firm has a market cap of $4.75 billion, a PE ratio of 23.72, a P/E/G ratio of 2.36 and a beta of 0.89. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. Knife River Co. has a fifty-two week low of $66.13 and a fifty-two week high of $108.83. The business’s fifty day moving average is $95.77 and its two-hundred day moving average is $97.08.

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

Wall Street Analyst Weigh In

KNF has been the topic of a number of research reports. Stephens reissued an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company began coverage on shares of Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 price target on the stock. Finally, Oppenheimer lifted their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $110.40.

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.