Alliancebernstein L.P. Increases Position in Knife River Corporation $KNF

Key Points

• Alliancebernstein L.P. increased its stake in Knife River Corporation by 7.1%, holding approximately 1,179,797 shares worth $106.4 million after purchasing 78,209 shares recently.
• During the last quarter, Knife River reported a miss on EPS estimates, with $0.89 compared to the expected $1.27, and a revenue of $833.8 million against expectations of $902.26 million.
• Analyst ratings for Knife River show a consensus of "Buy", with a range of price targets from $97.00 to $129.00, indicating positive investor sentiment.

Alliancebernstein L.P. lifted its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,179,797 shares of the company's stock after purchasing an additional 78,209 shares during the period. Alliancebernstein L.P. owned about 2.08% of Knife River worth $106,429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KNF. Opal Wealth Advisors LLC purchased a new position in shares of Knife River in the 1st quarter valued at about $26,000. Brooklyn Investment Group increased its stake in shares of Knife River by 31,200.0% in the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company's stock valued at $28,000 after purchasing an additional 312 shares in the last quarter. Versant Capital Management Inc increased its stake 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 in the last quarter. State of Wyoming purchased a new position in shares of Knife River in the 4th quarter valued at about $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Knife River in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Price Performance

NYSE:KNF opened at $80.29 on Friday. Knife River Corporation has a 12 month low of $73.91 and a 12 month high of $108.83. The stock has a 50 day moving average of $83.49 and a two-hundred day moving average of $88.75. 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 firm has a market cap of $4.55 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 5.73 and a beta of 0.62.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly 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 company had revenue of $833.80 million during the quarter, compared to analysts' expectations of $902.26 million. Knife River had a net margin of 5.20% and a return on equity of 10.58%. Knife River's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. On average, analysts expect that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

KNF has been the subject of several recent analyst reports. Royal Bank Of Canada assumed coverage on Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target for the company. Wells Fargo & Company boosted their price objective on Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Finally, DA Davidson cut their price objective 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus 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.

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