Envestnet Asset Management Inc. Has $3.77 Million Position in Knife River Corporation (NYSE:KNF)

Envestnet Asset Management Inc. lifted its stake in Knife River Corporation (NYSE:KNF - Free Report) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,779 shares of the company's stock after purchasing an additional 3,543 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Knife River worth $3,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KNF. Sei Investments Co. boosted its stake in Knife River by 13.6% in the fourth quarter. Sei Investments Co. now owns 58,114 shares of the company's stock valued at $5,907,000 after acquiring an additional 6,973 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Knife River in the 4th quarter valued at $1,146,000. LPL Financial LLC lifted its position in Knife River by 6.8% in the 4th quarter. LPL Financial LLC now owns 103,186 shares of the company's stock valued at $10,488,000 after acquiring an additional 6,567 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Knife River in the 4th quarter valued at $230,000. Finally, JPMorgan Chase & Co. increased its stake in Knife River by 18.4% in the 4th quarter. JPMorgan Chase & Co. now owns 247,541 shares of the company's stock valued at $25,160,000 after buying an additional 38,405 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KNF. Wells Fargo & Company lifted their price target on shares of Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada began coverage on shares of Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Finally, DA Davidson cut their price objective on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $117.17.

Knife River Stock Performance

Shares of Knife River stock opened at $82.16 on Friday. The company has a 50 day moving average of $85.61 and a 200-day moving average of $92.12. Knife River Corporation has a 1-year low of $67.22 and a 1-year high of $108.83. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The company has a market cap of $4.65 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). Knife River had a return on equity of 12.83% and a net margin of 6.18%. The firm had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same period last year, the company posted ($0.84) EPS. The business's revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

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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