Harvest Fund Management Co. Ltd Increases Stock Holdings in Knife River Co. (NYSE:KNF)

Harvest Fund Management Co. Ltd raised its stake in Knife River Co. (NYSE:KNF) by 933.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,956 shares of the company’s stock after purchasing an additional 6,283 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Knife River were worth $708,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KNF. Larson Financial Group LLC increased its stake in Knife River by 58.6% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC increased its stake in Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock valued at $55,000 after purchasing an additional 227 shares during the last quarter. KBC Group NV grew its position in shares of Knife River by 23.1% during the third quarter. KBC Group NV now owns 1,763 shares of the company’s stock worth $158,000 after acquiring an additional 331 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Knife River by 40.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock worth $169,000 after acquiring an additional 476 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Knife River during the fourth quarter worth approximately $203,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Price Performance

Shares of NYSE KNF opened at $90.78 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a fifty day moving average price of $98.01 and a 200 day moving average price of $95.96. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The company has a market cap of $5.14 billion, a PE ratio of 25.64, a P/E/G ratio of 2.36 and a beta of 0.88.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $655.80 million. Sell-side analysts forecast that Knife River Co. will post 4.11 EPS for the current year.

Analysts Set New Price Targets

KNF has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company initiated coverage on shares of Knife River in a research report on Monday, March 10th. They set an “overweight” rating and a $102.00 target price on the stock. Finally, Stephens restated an “overweight” rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Knife River has an average rating of “Buy” and a consensus price target 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.