Intech Investment Management LLC Purchases 9,152 Shares of Knife River Corporation $KNF

Key Points

• Intech Investment Management LLC increased its stake in Knife River Corporation by 41.1%, acquiring an additional 9,152 shares and owning approximately 0.06% of the company worth $2.83 million.
• Knife River reported quarterly earnings of $0.89 EPS, missing the consensus estimate of $1.27, with revenue of $833.8 million, compared to expectations of $902.26 million.
• Brokerages have mixed ratings on Knife River, with target prices ranging from $97.00 to $129.00, and the average rating currently at "Buy".

Intech Investment Management LLC grew its position in Knife River Corporation (NYSE:KNF - Free Report) by 41.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,419 shares of the company's stock after purchasing an additional 9,152 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Knife River worth $2,834,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KNF. Fifth Third Bancorp boosted its holdings in Knife River by 19.1% during the first quarter. Fifth Third Bancorp now owns 661 shares of the company's stock worth $60,000 after buying an additional 106 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its position in Knife River by 2.0% in the first quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company's stock valued at $722,000 after purchasing an additional 159 shares during the period. Greenleaf Trust increased its stake in Knife River by 6.7% during the 1st quarter. Greenleaf Trust now owns 2,567 shares of the company's stock worth $232,000 after buying an additional 162 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Knife River by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 6,631 shares of the company's stock worth $598,000 after buying an additional 175 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Knife River by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock valued at $1,434,000 after acquiring an additional 200 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KNF. Royal Bank Of Canada initiated coverage on Knife River in a research note on Monday, June 16th. They set an "outperform" rating and a $129.00 price target on the stock. DA Davidson lowered their price target on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company raised their target price on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $114.33.

Knife River Stock Down 0.4%

NYSE KNF traded down $0.31 on Wednesday, hitting $75.14. 775,054 shares of the stock traded hands, compared to its average volume of 570,434. The company has a market capitalization of $4.26 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 5.63 and a beta of 0.62. Knife River Corporation has a twelve month low of $74.21 and a twelve month high of $108.83. The stock has a 50-day moving average of $83.18 and a 200 day moving average of $87.84. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF - Get Free Report) last issued 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 return on equity of 10.58% and a net margin of 5.20%.The company had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. During the same period in the prior year, the business earned $1.37 earnings per share. Knife River's quarterly revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. As a group, analysts expect that Knife River Corporation will post 4.11 earnings per share for the current fiscal 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.