Financial Engines Advisors L.L.C. Buys 14,077 Shares of Knife River Corporation (NYSE:KNF)

Key Points

• Financial Engines Advisors L.L.C. significantly increased its stake in Knife River Corporation by 263.5%, acquiring an additional 14,077 shares to bring their total holdings to 19,419 shares worth approximately $1.75 million.
• Major financial institutions, including Wells Fargo and Envestnet Asset Management, also enhanced their positions in Knife River, reflecting considerable institutional interest with 80.11% of the stock currently held by institutional investors.
• Despite recent growth in revenue, Knife River reported a decrease in earnings per share to $0.89, missing estimates, and analysts expect a further EPS of $4.11 for the current year.

Financial Engines Advisors L.L.C. lifted its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 263.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,419 shares of the company's stock after buying an additional 14,077 shares during the quarter. Financial Engines Advisors L.L.C.'s holdings in Knife River were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of KNF. Capital Research Global Investors increased its position in shares of Knife River by 45.2% during the fourth 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 during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Knife River in the fourth quarter worth about $46,750,000. Nuveen LLC purchased a new stake in Knife River in the first quarter worth about $38,521,000. Invesco Ltd. grew its holdings in Knife River by 83.7% in the fourth quarter. Invesco Ltd. now owns 879,796 shares of the company's stock worth $89,422,000 after purchasing an additional 400,954 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Knife River by 56.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 426,781 shares of the company's stock worth $38,500,000 after purchasing an additional 153,808 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Stock Down 3.8%

Shares of NYSE:KNF traded down $3.59 during trading on Thursday, reaching $90.99. 722,589 shares of the stock traded hands, compared to its average volume of 561,866. The stock has a 50-day moving average of $83.06 and a two-hundred day moving average of $90.70. Knife River Corporation has a 52-week low of $73.76 and a 52-week high of $108.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. The stock has a market cap of $5.16 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 6.77 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). Knife River had a net margin of 5.20% and a return on equity of 10.58%. The firm had revenue of $833.80 million for the quarter, compared to analysts' expectations of $902.26 million. During the same quarter in the previous year, the company earned $1.37 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side 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 topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective on the stock. DA Davidson cut their price objective on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. Finally, Wells Fargo & Company upped their price objective on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently 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.