Public Employees Retirement System of Ohio Purchases 14,773 Shares of Knife River Corporation $KNF

Public Employees Retirement System of Ohio lifted its position in Knife River Corporation (NYSE:KNF) by 48.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,219 shares of the company’s stock after purchasing an additional 14,773 shares during the period. Public Employees Retirement System of Ohio’s holdings in Knife River were worth $3,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KNF. Bessemer Group Inc. lifted its stake in shares of Knife River by 6.9% during the 1st quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $151,000 after buying an additional 119 shares in the last quarter. DMKC Advisory Services LLC increased its stake in Knife River by 4.2% in the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company’s stock worth $265,000 after buying an additional 150 shares in the last quarter. TIAA Trust National Association increased its stake in Knife River by 5.6% in the 4th quarter. TIAA Trust National Association now owns 3,146 shares of the company’s stock worth $221,000 after buying an additional 166 shares in the last quarter. Lido Advisors LLC raised its holdings in Knife River by 6.0% during the first quarter. Lido Advisors LLC now owns 2,949 shares of the company’s stock valued at $241,000 after acquiring an additional 167 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in Knife River by 6.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company’s stock valued at $285,000 after acquiring an additional 220 shares during the period. 80.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KNF shares. Oppenheimer began coverage on Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective for the company. Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. lifted their target price on Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research raised Knife River from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Finally, Royal Bank Of Canada dropped their price target on Knife River from $109.00 to $107.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.14.

Knife River Stock Performance

Shares of NYSE KNF opened at $73.27 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. The company has a market cap of $4.16 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.36 and a beta of 0.37. The firm’s fifty day moving average is $80.35 and its two-hundred day moving average is $81.44. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $96.28.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.02. The business had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.21) EPS. As a group, analysts anticipate that Knife River Corporation will post 3.32 EPS for the current fiscal 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.