Congress Asset Management Co. Has $60.80 Million Holdings in Knife River Corporation $KNF

Key Points

• Congress Asset Management Co. increased its holdings in Knife River Corporation by 1.5% in Q2, owning approximately 1.31% of the company's shares valued at about $60.80 million.
• Knife River reported $0.89 earnings per share (EPS) for the last quarter, missing analysts' estimates of $1.27, despite a year-over-year revenue increase of 3.3% to $833.80 million.
• Wall Street analysts have an average target price of $114.33 for Knife River, with a majority rating the stock as a "Buy" following recent adjustments from firms like DA Davidson and Wells Fargo.

Congress Asset Management Co. boosted its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 744,667 shares of the company's stock after purchasing an additional 10,835 shares during the quarter. Congress Asset Management Co. owned about 1.31% of Knife River worth $60,795,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Knife River by 4,145.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company's stock valued at $150,456,000 after buying an additional 1,628,535 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Knife River by 129.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,053,386 shares of the company's stock valued at $95,026,000 after acquiring an additional 593,431 shares in the last quarter. Nuveen LLC acquired a new position in Knife River during the 1st quarter valued at about $38,521,000. Invesco Ltd. increased its holdings in Knife River by 40.6% during the 1st quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock worth $111,583,000 after purchasing an additional 357,133 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Knife River by 19.7% in the first quarter. American Century Companies Inc. now owns 1,062,743 shares of the company's stock worth $95,870,000 after purchasing an additional 175,063 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Price Performance

Shares of NYSE:KNF opened at $71.94 on Friday. The company has a market capitalization of $4.08 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 5.28 and a beta of 0.62. The company's 50-day moving average is $82.58 and its 200 day moving average is $87.15. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. Knife River Corporation has a fifty-two week low of $70.80 and a fifty-two week high of $108.83.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. DA Davidson decreased their price target on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a 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 note 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 price target on the stock. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Knife River currently has an average rating of "Buy" and an average target price of $114.33.

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.

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