Legato Capital Management LLC Acquires Shares of 3,530 Knife River Corporation (NYSE:KNF)

Key Points

• Legato Capital Management LLC acquired 3,530 shares of Knife River Corporation (NYSE:KNF) in the first quarter, valued at approximately $318,000.
• The consensus rating for Knife River is currently "Buy", with an average price target of $117.17 following several analyst upgrades.
• For the latest quarter, Knife River reported a net margin of 6.18% and a revenue increase of 7.3% year-over-year, despite missing the earnings per share estimate.

Legato Capital Management LLC bought a new stake in shares of Knife River Corporation (NYSE:KNF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,530 shares of the company's stock, valued at approximately $318,000.

Other hedge funds have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Knife River by 5.8% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 139,034 shares of the company's stock worth $12,542,000 after buying an additional 7,600 shares during the period. GW&K Investment Management LLC raised its stake in shares of Knife River by 1.4% in the first quarter. GW&K Investment Management LLC now owns 202,151 shares of the company's stock valued at $18,236,000 after acquiring an additional 2,754 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Knife River in the first quarter valued at $1,375,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Knife River in the first quarter valued at $35,000. Finally, Verdence Capital Advisors LLC raised its stake in shares of Knife River by 40.2% in the first quarter. Verdence Capital Advisors LLC now owns 3,423 shares of the company's stock valued at $309,000 after acquiring an additional 982 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Performance

Shares of KNF stock traded up $0.65 during mid-day trading on Friday, hitting $82.16. 350,827 shares of the stock were exchanged, compared to its average volume of 622,238. The stock's fifty day simple moving average is $85.61 and its two-hundred day simple moving average is $92.12. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.24 and a beta of 0.63. Knife River Corporation has a 12-month low of $67.22 and a 12-month high of $108.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 2.94.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). Knife River had a return on equity of 12.83% and a net margin of 6.18%. The company had revenue of $353.50 million for the quarter, compared to analysts' expectations of $343.98 million. During the same period in the prior year, the business earned ($0.84) EPS. The business's quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that Knife River Corporation will post 4.11 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on KNF shares. Royal Bank Of Canada initiated coverage on Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective on the stock. DA Davidson cut their price target on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company raised their price target on Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $117.17.

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.