Thrivent Financial for Lutherans Grows Stock Position in Knife River Corporation $KNF

Thrivent Financial for Lutherans grew its position in shares of Knife River Corporation (NYSE:KNF) by 32.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,062 shares of the company’s stock after buying an additional 16,588 shares during the period. Thrivent Financial for Lutherans’ holdings in Knife River were worth $5,475,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in KNF. Price T Rowe Associates Inc. MD raised its position in shares of Knife River by 4,145.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company’s stock valued at $150,456,000 after purchasing an additional 1,628,535 shares during the period. Norges Bank purchased a new position in Knife River in the 2nd quarter valued at approximately $53,260,000. T. Rowe Price Investment Management Inc. raised its holdings in Knife River by 129.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,053,386 shares of the company’s stock valued at $95,026,000 after acquiring an additional 593,431 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Knife River by 30.1% during the second quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after acquiring an additional 182,462 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Knife River by 71.0% in the second quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock valued at $28,971,000 after purchasing an additional 147,387 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Trading Down 0.6%

Shares of KNF opened at $73.38 on Friday. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $108.83. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.49 and a beta of 0.43. The firm has a 50 day moving average price of $69.98 and a 200-day moving average price of $77.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39.

Knife River (NYSE:KNF) last released its earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. As a group, equities research analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KNF. Wells Fargo & Company raised shares of Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 price target on the stock in a report on Tuesday, November 4th. DA Davidson lowered their target price on shares of Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Wall Street Zen downgraded shares of Knife River from a “hold” rating to a “sell” rating in a report on Tuesday, December 2nd. Royal Bank Of Canada decreased their price target on shares of Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, UBS Group raised Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.33.

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.