41,000 Shares in Knife River Co. (NYSE:KNF) Bought by Tribune Investment Group LP

Tribune Investment Group LP bought a new position in shares of Knife River Co. (NYSE:KNF) in the 4th quarter, HoldingsChannel.com reports. The firm bought 41,000 shares of the company’s stock, valued at approximately $4,167,000. Knife River makes up approximately 2.3% of Tribune Investment Group LP’s portfolio, making the stock its 22nd largest position.

A number of other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock valued at $119,561,000 after purchasing an additional 26,198 shares during the last quarter. Alliancebernstein L.P. grew its position in Knife River by 830.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after acquiring an additional 983,223 shares in the last quarter. American Century Companies Inc. increased its stake in Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock valued at $90,224,000 after acquiring an additional 819,439 shares during the last quarter. Invesco Ltd. raised its position in Knife River by 83.7% during the fourth quarter. Invesco Ltd. now owns 879,796 shares of the company’s stock valued at $89,422,000 after purchasing an additional 400,954 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in Knife River by 2.5% during the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock worth $70,766,000 after purchasing an additional 16,698 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Performance

Shares of KNF stock opened at $93.47 on Monday. Knife River Co. has a 52 week low of $66.13 and a 52 week high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average of $93.69 and a 200 day moving average of $97.00. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.36 and a beta of 0.97.

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 the consensus estimate of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. As a group, research analysts expect that Knife River Co. will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on KNF shares. Wells Fargo & Company initiated coverage on Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price for the company. Stephens reiterated an “overweight” rating and issued a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Knife River presently has an average rating of “Buy” and an average target price of $110.40.

About Knife River

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.