Harvest Fund Management Co. Ltd Makes New Investment in Knife River Co. (NYSE:KNF)

Harvest Fund Management Co. Ltd acquired a new stake in Knife River Co. (NYSE:KNF) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 673 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Knife River by 129.4% during the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares during the period. Huntington National Bank lifted its holdings in shares of Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Knife River in the 2nd quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Knife River in the second quarter worth about $43,000. Finally, Sittner & Nelson LLC grew its holdings in Knife River by 18.5% during the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

KNF has been the subject of a number of analyst reports. DA Davidson boosted their price target on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Oppenheimer boosted their target price on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Loop Capital dropped their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Knife River Trading Down 1.8 %

Shares of NYSE:KNF opened at $102.73 on Thursday. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 2.80 and a beta of 0.74. The business’s 50 day moving average price is $93.92 and its 200-day moving average price is $81.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. Knife River Co. has a 1 year low of $58.92 and a 1 year high of $105.63.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 earnings per share. On average, equities research analysts forecast that Knife River Co. will post 3.57 earnings per share 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.