Public Employees Retirement System of Ohio Purchases Shares of 38,104 Knife River Corporation $KNF

Public Employees Retirement System of Ohio purchased a new stake in shares of Knife River Corporation (NYSE:KNF) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 38,104 shares of the company’s stock, valued at approximately $3,187,000.

Several other institutional investors have also recently made changes to their positions in the business. McMillan Office Inc. purchased a new position in shares of Knife River during the 4th quarter worth $36,000. Trust Co. of Vermont purchased a new stake in Knife River in the second quarter worth about $39,000. Hantz Financial Services Inc. lifted its position in shares of Knife River by 66.3% during the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock valued at $40,000 after buying an additional 226 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Knife River by 1,088.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock valued at $42,000 after buying an additional 544 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of Knife River during the 2nd quarter valued at approximately $50,000. Institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

KNF has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Monday, August 24th. Oppenheimer assumed coverage on shares of Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price target for the company. Royal Bank Of Canada reduced their price objective on shares of Knife River from $107.00 to $103.00 and set an “outperform” rating for the company in a research note on Wednesday, August 5th. Stephens set a $80.00 target price on shares of Knife River in a research note on Wednesday, August 5th. Finally, Zacks Research cut shares of Knife River from a “hold” rating to a “strong sell” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.86.

Knife River Stock Performance

Shares of NYSE KNF opened at $61.97 on Friday. The company has a market cap of $3.52 billion, a P/E ratio of 25.29, a P/E/G ratio of 1.20 and a beta of 0.38. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $96.28. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66. The firm’s fifty day moving average is $73.24 and its two-hundred day moving average is $79.56.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.36). The company had revenue of $938.57 million for the quarter, compared to the consensus estimate of $931.39 million. Knife River had a net margin of 4.23% and a return on equity of 8.73%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. As a group, analysts anticipate that Knife River Corporation will post 3.08 EPS for the current fiscal year.

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.