Knife River Corporation (NYSE:KNF) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in Knife River Corporation by 31.3%, now owning 309,160 shares valued at approximately $27.89 million.
• Multiple institutional investors significantly increased their holdings in Knife River, with Alliancebernstein L.P. boosting its position by 830.7% to over $111 million.
• Knife River's recent earnings report revealed a loss of ($1.21) per share, missing expectations, although revenue rose 7.3% year-over-year to $353.5 million.

Federated Hermes Inc. reduced its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 309,160 shares of the company's stock after selling 141,075 shares during the quarter. Federated Hermes Inc. owned 0.55% of Knife River worth $27,889,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KNF. Capital Research Global Investors lifted its stake in Knife River by 45.2% in the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after buying an additional 603,170 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Knife River by 830.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock valued at $111,965,000 after buying an additional 983,223 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Knife River by 1.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company's stock valued at $105,121,000 after buying an additional 17,234 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Knife River by 3.7% in the 4th quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock valued at $99,934,000 after acquiring an additional 34,747 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in Knife River by 4.3% in the 4th quarter. Hood River Capital Management LLC now owns 906,534 shares of the company's stock valued at $92,140,000 after acquiring an additional 37,431 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Trading Up 2.1%

Shares of NYSE KNF traded up $1.78 during midday trading on Tuesday, reaching $86.14. 1,358,955 shares of the stock were exchanged, compared to its average volume of 548,699. The company has a 50 day simple moving average of $84.06 and a 200 day simple moving average of $91.49. The stock has a market capitalization of $4.88 billion, a P/E ratio of 27.17, a PEG ratio of 2.27 and a beta of 0.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 2.94. Knife River Corporation has a twelve month low of $69.73 and a twelve month high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a net margin of 6.18% and a return on equity of 12.83%. The company had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. During the same quarter last year, the business posted $1.37 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts expect that Knife River Corporation will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on KNF shares. Royal Bank Of Canada started coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. 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. Finally, Wells Fargo & Company cut their price objective on shares of Knife River from $114.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $114.17.

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.