ICA Group Wealth Management LLC Lowers Holdings in Knife River Co. (NYSE:KNF)

ICA Group Wealth Management LLC cut its stake in Knife River Co. (NYSE:KNF) by 66.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,370 shares of the company’s stock after selling 2,697 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Knife River were worth $96,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Knife River by 26.7% during the fourth quarter. Victory Capital Management Inc. now owns 11,958 shares of the company’s stock worth $791,000 after buying an additional 2,517 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Knife River by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 487,200 shares of the company’s stock valued at $32,243,000 after acquiring an additional 34,787 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Knife River by 16.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,398,360 shares of the company’s stock valued at $92,546,000 after purchasing an additional 199,389 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Knife River by 10.0% in the 4th quarter. Principal Financial Group Inc. now owns 211,265 shares of the company’s stock worth $13,982,000 after purchasing an additional 19,125 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Knife River during the fourth quarter worth approximately $351,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens started coverage on Knife River in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

Knife River Trading Up 2.4 %

Shares of Knife River stock opened at $83.99 on Monday. Knife River Co. has a twelve month low of $46.51 and a twelve month high of $84.52. The firm’s 50-day moving average price is $76.26 and its 200 day moving average price is $75.42. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $4.75 billion, a PE ratio of 27.09, a P/E/G ratio of 1.92 and a beta of 0.81.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The firm had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. During the same period in the previous year, the company posted $1.00 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts predict that Knife River Co. will post 3.72 EPS for the current fiscal year.

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.