Advisors Asset Management Inc. Grows Position in Knife River Corporation $KNF

Key Points

• Advisors Asset Management Inc. increased its stake in Knife River Corporation by 64.0%, acquiring an additional 10,177 shares and holding a total of 26,090 shares worth approximately $2.35 million.
• Wall Street analysts have a positive outlook on Knife River, with an average price target of $114.33 and six analysts rating the stock as a "Buy."
• Despite reporting a quarterly earnings per share of $0.89, which missed estimates, Knife River's revenue increased by 3.3% compared to the same quarter last year.

Advisors Asset Management Inc. raised its position in Knife River Corporation (NYSE:KNF - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,090 shares of the company's stock after acquiring an additional 10,177 shares during the period. Advisors Asset Management Inc.'s holdings in Knife River were worth $2,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in KNF. Opal Wealth Advisors LLC acquired a new position in Knife River during the 1st quarter valued at about $26,000. State of Wyoming purchased a new stake in shares of Knife River during the fourth quarter worth about $30,000. Brooklyn Investment Group increased its holdings in shares of Knife River by 31,200.0% during the first quarter. Brooklyn Investment Group now owns 313 shares of the company's stock valued at $28,000 after acquiring an additional 312 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock valued at $29,000 after purchasing an additional 271 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Knife River in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Performance

Shares of NYSE:KNF traded down $2.68 during midday trading on Friday, reaching $78.00. The company's stock had a trading volume of 408,072 shares, compared to its average volume of 605,118. The firm has a market capitalization of $4.42 billion, a PE ratio of 29.00, a P/E/G ratio of 5.88 and a beta of 0.62. Knife River Corporation has a twelve month low of $74.50 and a twelve month high of $108.83. The stock has a fifty day moving average of $83.29 and a 200 day moving average of $88.14. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). The business had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. Knife River had a net margin of 5.20% and a return on equity of 10.58%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. On average, equities analysts expect that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.