Invesco Ltd. Raises Position in Knife River Corporation $KNF

Key Points

• Invesco Ltd. increased its stake in Knife River Corporation by 40.6%, acquiring an additional 357,133 shares, bringing its total to 1,236,929 shares, worth approximately $111.58 million.
• Knife River’s stock has received multiple positive ratings from analysts, with a consensus rating of "Buy" and a target price averaging $114.33.
• The company's recent earnings report showed a net margin of 5.2% with revenues of $833.8 million, missing analyst estimates significantly.

Invesco Ltd. increased its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 40.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,236,929 shares of the company's stock after buying an additional 357,133 shares during the quarter. Invesco Ltd. owned 2.18% of Knife River worth $111,583,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KNF. Capital Research Global Investors raised its stake in shares of Knife River by 45.2% in the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after purchasing an additional 603,170 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Knife River in the 4th quarter valued at about $46,750,000. Massachusetts Financial Services Co. MA raised its stake in shares of Knife River by 56.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 426,781 shares of the company's stock valued at $38,500,000 after purchasing an additional 153,808 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Knife River in the 4th quarter valued at about $14,600,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Knife River in the 4th quarter valued at about $13,359,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Ratings Changes

KNF has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. DA Davidson decreased their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada began coverage on Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Knife River currently has an average rating of "Buy" and an average price target of $114.33.

Knife River Trading Down 3.0%

Shares of KNF traded down $2.6450 during trading hours on Wednesday, reaching $86.6850. 133,125 shares of the company traded hands, compared to its average volume of 558,418. The company's fifty day moving average price is $82.91 and its two-hundred day moving average price is $90.30. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 6.37 and a beta of 0.63. 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 Corporation has a 12 month low of $73.91 and a 12 month high of $108.83.

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

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.