Cinctive Capital Management LP Has $552,000 Stake in Knife River Co. (NYSE:KNF)

Cinctive Capital Management LP reduced its position in shares of Knife River Co. (NYSE:KNF) by 82.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,175 shares of the company’s stock after selling 28,089 shares during the period. Cinctive Capital Management LP’s holdings in Knife River were worth $552,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after acquiring an additional 224,373 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after purchasing an additional 38,152 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Knife River by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after purchasing an additional 5,791 shares in the last quarter. Congress Asset Management Co. increased its stake in Knife River by 10.7% in the 3rd quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock valued at $60,745,000 after buying an additional 65,930 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in Knife River by 2.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 660,225 shares of the company’s stock worth $59,017,000 after buying an additional 13,490 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Oppenheimer raised their price objective on Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Loop Capital lowered their price target on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, DA Davidson increased their price objective on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River Stock Up 1.1 %

KNF stock opened at $103.52 on Wednesday. Knife River Co. has a 1-year low of $60.04 and a 1-year high of $105.63. The business’s 50 day simple moving average is $94.96 and its 200 day simple moving average is $82.01. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.86 billion, a PE ratio of 29.66, a PEG ratio of 2.75 and a beta of 0.71.

Knife River (NYSE:KNF) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 earnings per share. As a group, research analysts anticipate that Knife River Co. will post 3.57 EPS for the current year.

Knife River Company 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.