PNC Financial Services Group Inc. Lowers Stock Holdings in Knife River Co. (NYSE:KNF)

PNC Financial Services Group Inc. reduced its holdings in Knife River Co. (NYSE:KNF) by 32.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,736 shares of the company’s stock after selling 5,671 shares during the period. PNC Financial Services Group Inc.’s holdings in Knife River were worth $1,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KNF. Thrivent Financial for Lutherans grew its stake in Knife River by 36.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 78,803 shares of the company’s stock valued at $7,045,000 after acquiring an additional 21,142 shares during the period. Chesapeake Capital Corp IL purchased a new position in Knife River during the third quarter valued at $567,000. RIA Advisory Group LLC acquired a new stake in shares of Knife River in the third quarter valued at about $302,000. Royce & Associates LP purchased a new stake in shares of Knife River during the third quarter worth about $1,028,000. Finally, Huntington National Bank raised its position in shares of Knife River by 586.0% during the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after purchasing an additional 293 shares during the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Down 1.8 %

KNF stock opened at $102.73 on Thursday. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 2.80 and a beta of 0.74. The firm has a 50-day moving average of $93.92 and a two-hundred day moving average of $81.23. Knife River Co. has a 12 month low of $58.92 and a 12 month high of $105.63. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last posted its quarterly earnings results 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. As a group, analysts forecast that Knife River Co. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.