Aberdeen Group plc Acquires 85,592 Shares of Knife River Corporation $KNF

Key Points

• Aberdeen Group plc increased its stake in Knife River Corporation by 40.5% during the first quarter, owning 297,182 shares worth approximately $26.8 million.
• Knife River recently reported earnings per share (EPS) of $0.89, missing the consensus estimate of $1.27, with quarterly revenue of $833.8 million.
• Despite recent challenges, analysts maintain a positive outlook, with the average price target for Knife River shares at $114.33 and a rating of "Buy" from multiple research firms.

Aberdeen Group plc lifted its position in Knife River Corporation (NYSE:KNF - Free Report) by 40.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,182 shares of the company's stock after purchasing an additional 85,592 shares during the period. Aberdeen Group plc owned about 0.52% of Knife River worth $26,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Knife River in the first quarter worth $26,000. State of Wyoming purchased a new stake in shares of Knife River in the fourth quarter worth $30,000. Versant Capital Management Inc increased its stake in shares of Knife River by 501.9% in the first quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after purchasing an additional 271 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Knife River in the first quarter worth $35,000. Finally, Bessemer Group Inc. boosted its position in shares of Knife River by 173.9% during the first quarter. Bessemer Group Inc. now owns 545 shares of the company's stock worth $49,000 after acquiring an additional 346 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Price Performance

Shares of NYSE:KNF traded up $4.27 during midday trading on Friday, reaching $91.95. 675,517 shares of the company were exchanged, compared to its average volume of 743,856. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. The business's fifty day moving average is $83.24 and its two-hundred day moving average is $90.01. Knife River Corporation has a one year low of $73.91 and a one year high of $108.83. The stock has a market cap of $5.21 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 6.69 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a net margin of 5.20% and a return on equity of 10.58%. The business had revenue of $833.80 million for the quarter, compared to the consensus estimate of $902.26 million. During the same quarter last year, the business earned $1.37 EPS. Knife River's revenue for the quarter was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. As a group, analysts predict that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KNF shares. DA Davidson dropped their target price on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 10th. Wells Fargo & Company upped their target price on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada started coverage on shares of Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $114.33.

Knife River 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.