Granahan Investment Management LLC Cuts Stock Position in Knife River Corporation $KNF

Key Points

• Granahan Investment Management LLC reduced its stake in Knife River Corporation by 4.5% during the first quarter, holding 154,247 shares after selling 7,330 shares, now valued at approximately $13.9 million.
• Other institutional investors have increased their holdings significantly in Knife River, with Price T Rowe Associates Inc. MD growing its stake by over 4,145%, bringing its total shares to approximately 1.67 million.
• Knife River's latest earnings report showed an EPS of $0.89, missing expectations of $1.27, and the company has set a fiscal year 2025 guidance of approximately 4.11 EPS.

Granahan Investment Management LLC cut its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,247 shares of the company's stock after selling 7,330 shares during the period. Granahan Investment Management LLC owned about 0.27% of Knife River worth $13,915,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Knife River by 4,145.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company's stock worth $150,456,000 after buying an additional 1,628,535 shares during the period. Invesco Ltd. grew its holdings in shares of Knife River by 40.6% in the 1st quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock valued at $111,583,000 after acquiring an additional 357,133 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Knife River by 7.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company's stock valued at $106,429,000 after acquiring an additional 78,209 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in Knife River by 9.6% during the first quarter. Driehaus Capital Management LLC now owns 1,077,922 shares of the company's stock worth $97,239,000 after purchasing an additional 94,710 shares during the period. Finally, American Century Companies Inc. grew its holdings in Knife River by 19.7% during 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 period. 80.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KNF. Wells Fargo & Company upped their price target on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Royal Bank Of Canada assumed coverage on shares of Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. 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 analysts have rated the stock with a Buy rating, According to MarketBeat.com, Knife River currently has an average rating of "Buy" and a consensus target price of $114.33.

Knife River Stock Up 0.1%

Shares of NYSE KNF traded up $0.07 during midday trading on Wednesday, hitting $78.95. The stock had a trading volume of 149,674 shares, compared to its average volume of 568,176. The company has a market cap of $4.47 billion, a P/E ratio of 29.35, a PEG ratio of 5.84 and a beta of 0.62. The business's 50 day moving average is $83.39 and its 200-day moving average is $88.40. Knife River Corporation has a 52 week low of $74.50 and a 52 week high of $108.83. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF - Get Free Report) last announced 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). Knife River had a return on equity of 10.58% and a net margin of 5.20%.The firm had revenue of $833.80 million during the quarter, compared to analysts' expectations of $902.26 million. During the same period last year, the company earned $1.37 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. As a group, analysts predict 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.