Brant Point Investment Management LLC Purchases 14,570 Shares of Knife River Corporation $KNF

Key Points

• Brant Point Investment Management LLC increased its stake in Knife River Corporation (NYSE:KNF) by 32.6%, owning 59,270 shares worth approximately $5.3 million.
• Knife River reported earnings per share of $0.89 for the latest quarter, falling short of analysts' estimates of $1.27, with revenues of $833.80 million.
• Brokerages currently have an average price target of $114.33 for Knife River, with several analysts rating the stock as a "Buy."

Brant Point Investment Management LLC lifted its stake in Knife River Corporation (NYSE:KNF - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,270 shares of the company's stock after acquiring an additional 14,570 shares during the period. Knife River makes up 0.6% of Brant Point Investment Management LLC's portfolio, making the stock its 21st largest holding. Brant Point Investment Management LLC owned approximately 0.10% of Knife River worth $5,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Knife River by 0.5% in the first quarter. Principal Financial Group Inc. now owns 155,329 shares of the company's stock worth $14,012,000 after purchasing an additional 697 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Knife River by 14.8% in the first quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock valued at $389,000 after buying an additional 555 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Knife River in the first quarter worth about $206,000. Wealth Enhancement Advisory Services LLC increased its position in Knife River by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company's stock worth $729,000 after purchasing an additional 485 shares during the period. Finally, GAMMA Investing LLC increased its position in Knife River by 99.3% in the first quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock worth $97,000 after purchasing an additional 535 shares during the period. 80.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Knife River Stock Up 0.2%

Shares of KNF traded up $0.19 on Monday, hitting $81.08. The company's stock had a trading volume of 795,625 shares, compared to its average volume of 755,209. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. The firm's fifty day moving average price is $83.78 and its 200-day moving average price is $89.37. Knife River Corporation has a fifty-two week low of $73.91 and a fifty-two week high of $108.83. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 30.14, a P/E/G ratio of 5.90 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share (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 during the quarter, compared to analyst estimates of $902.26 million. During the same quarter in the prior year, the firm posted $1.37 earnings per share. 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. On average, equities research analysts expect that Knife River Corporation will post 4.11 EPS for the current year.

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.