Harbor Capital Advisors Inc. Lowers Stock Holdings in Knife River Co. (NYSE:KNF)

Harbor Capital Advisors Inc. lowered its holdings in Knife River Co. (NYSE:KNF) by 20.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,718 shares of the company’s stock after selling 10,641 shares during the period. Harbor Capital Advisors Inc. owned 0.07% of Knife River worth $3,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KNF. Alliancebernstein L.P. grew its position in shares of Knife River by 830.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock valued at $111,965,000 after purchasing an additional 983,223 shares during the period. American Century Companies Inc. grew its position in shares of Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock valued at $90,224,000 after purchasing an additional 819,439 shares during the period. Norges Bank purchased a new stake in shares of Knife River in the fourth quarter valued at $66,631,000. Capital Research Global Investors grew its position in shares of Knife River by 45.2% in the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after purchasing an additional 603,170 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Knife River in the fourth quarter valued at $46,750,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

KNF stock opened at $89.21 on Wednesday. The stock has a 50-day moving average price of $93.39 and a two-hundred day moving average price of $97.22. Knife River Co. has a 12-month low of $66.51 and a 12-month high of $108.83. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The company has a market cap of $5.05 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.32). Knife River had a return on equity of 14.82% and a net margin of 6.96%. The company had revenue of $353.50 million during the quarter, compared to analysts’ expectations of $343.98 million. During the same period in the previous year, the company earned ($0.84) EPS. Knife River’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts predict that Knife River Co. will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. DA Davidson lowered their price target on Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stephens reissued an “overweight” rating and set a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $114.80.

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.