Headland Capital LLC Acquires Shares of 56,605 Knife River Corporation (NYSE:KNF)

Key Points

• Headland Capital LLC recently acquired 56,605 shares of Knife River Corporation, valued at approximately $5.1 million, making it the firm’s 18th largest holding.
• Analysts have mixed ratings on Knife River, with Wells Fargo lowering the target price to $96, while Royal Bank of Canada maintains an "outperform" rating with a target of $129.
• In its latest earnings report, Knife River missed consensus EPS estimates and reported $353.5 million in revenue, indicating a 7.3% increase from the previous year.

Headland Capital LLC acquired a new stake in shares of Knife River Corporation (NYSE:KNF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 56,605 shares of the company's stock, valued at approximately $5,106,000. Knife River accounts for 1.7% of Headland Capital LLC's investment portfolio, making the stock its 18th largest position. Headland Capital LLC owned about 0.10% of Knife River at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Natixis Advisors LLC lifted its stake in shares of Knife River by 4.6% during the first quarter. Natixis Advisors LLC now owns 13,859 shares of the company's stock valued at $1,250,000 after acquiring an additional 615 shares during the period. Arkadios Wealth Advisors bought a new position in shares of Knife River during the first quarter worth about $465,000. LPL Financial LLC grew its holdings in shares of Knife River by 3.0% during the first quarter. LPL Financial LLC now owns 106,316 shares of the company's stock worth $9,591,000 after buying an additional 3,130 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Knife River by 400.5% during the first quarter. TD Asset Management Inc now owns 22,022 shares of the company's stock worth $1,987,000 after buying an additional 17,622 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Knife River by 4.0% in the first quarter. Cetera Investment Advisers now owns 10,178 shares of the company's stock valued at $918,000 after purchasing an additional 396 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Performance

Shares of Knife River stock traded up $2.73 during trading hours on Tuesday, reaching $87.09. The company had a trading volume of 1,451,904 shares, compared to its average volume of 549,346. Knife River Corporation has a one year low of $69.73 and a one year high of $108.83. The business has a fifty day simple moving average of $84.06 and a 200 day simple moving average of $91.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49. The firm has a market cap of $4.93 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). Knife River had a net margin of 6.18% and a return on equity of 12.83%. 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 business earned $1.37 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on KNF shares. Royal Bank Of Canada began coverage on Knife River in a research report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. DA Davidson decreased their price target on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company reduced their price objective on Knife River from $114.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 29th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $114.17.

About Knife River

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.