Intech Investment Management LLC Grows Stock Holdings in 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 raised its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 41.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,419 shares of the company's stock after acquiring an additional 9,152 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Knife River worth $2,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp increased its position in Knife River by 19.1% during the first quarter. Fifth Third Bancorp now owns 661 shares of the company's stock valued at $60,000 after acquiring an additional 106 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its position in Knife River by 2.0% during the first quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company's stock valued at $722,000 after acquiring an additional 159 shares during the last quarter. Greenleaf Trust increased its position in Knife River by 6.7% during the first quarter. Greenleaf Trust now owns 2,567 shares of the company's stock valued at $232,000 after acquiring an additional 162 shares during the last quarter. State of Alaska Department of Revenue increased its position in 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 valued at $598,000 after acquiring an additional 175 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Knife River by 1.3% during the first 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. Institutional investors own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KNF. 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 research report on Tuesday, June 10th. 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. Finally, 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 target on the stock. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $114.33.

Knife River Stock Down 1.1%

NYSE:KNF traded down $0.84 during mid-day trading on Friday, reaching $75.46. The company's stock had a trading volume of 1,393,932 shares, compared to its average volume of 643,120. Knife River Corporation has a 1 year low of $74.21 and a 1 year high of $108.83. The stock has a fifty day moving average of $82.91 and a 200-day moving average of $87.57. The firm has a market capitalization of $4.28 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 5.56 and a beta of 0.62. 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 released its quarterly earnings data 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 return on equity of 10.58% and a net margin of 5.20%.The business 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 firm's revenue was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. Equities research analysts forecast that Knife River Corporation will post 4.11 earnings per share 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.