SG Americas Securities LLC Buys 10,127 Shares of Knife River Corporation $KNF

SG Americas Securities LLC lifted its stake in Knife River Corporation (NYSE:KNF) by 93.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,916 shares of the company’s stock after acquiring an additional 10,127 shares during the period. SG Americas Securities LLC’s holdings in Knife River were worth $1,608,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its position in shares of Knife River by 127.2% during the second quarter. Teacher Retirement System of Texas now owns 128,785 shares of the company’s stock valued at $10,514,000 after buying an additional 72,108 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Knife River by 27.2% in the 2nd quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock worth $55,998,000 after buying an additional 146,782 shares during the last quarter. DMKC Advisory Services LLC bought a new position in shares of Knife River during the 2nd quarter worth approximately $358,000. Rhumbline Advisers lifted its position in Knife River by 2.8% during the second quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock valued at $14,825,000 after acquiring an additional 4,889 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Knife River by 25.0% in the second quarter. Asset Management One Co. Ltd. now owns 68,624 shares of the company’s stock valued at $5,602,000 after acquiring an additional 13,703 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KNF shares. DA Davidson reduced their price target on Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research note on Wednesday, October 8th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $81.00 price target (up from $75.00) on shares of Knife River in a research note on Tuesday. Oppenheimer lowered their price target on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada cut their price objective on shares of Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and an average target price of $97.33.

Knife River Trading Up 1.5%

Shares of NYSE:KNF opened at $80.17 on Friday. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $108.83. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.29 and a beta of 0.47. The business has a 50-day moving average price of $73.82 and a 200-day moving average price of $76.07.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.07. Knife River had a net margin of 4.87% and a return on equity of 9.97%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. Equities analysts predict that Knife River Corporation will post 4.11 EPS for the current year.

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.