Knife River Corporation $KNF Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its stake in Knife River by 111.6% in Q4, buying 33,698 shares to hold 63,904 shares valued at $4,648,000, while institutional investors now own about 80.11% of the company.
• Knife River beat Q4 expectations, reporting $0.56 EPS vs. $0.41 expected and revenue of $755.06 million (up 14.9% year-over-year), signaling stronger-than-expected operational performance.
• Analysts are broadly positive with a consensus rating of "Moderate Buy" and a $97.43 target, after multiple firms raised price targets into the $105–$109 range.

Allspring Global Investments Holdings LLC grew its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 111.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 63,904 shares of the company's stock after acquiring an additional 33,698 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Knife River worth $4,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its position in Knife River by 141.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company's stock valued at $26,000 after buying an additional 200 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Knife River during the third quarter valued at approximately $47,000. GAMMA Investing LLC increased its stake in shares of Knife River by 34.8% during the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company's stock valued at $48,000 after acquiring an additional 177 shares during the period. UMB Bank n.a. increased its stake in shares of Knife River by 124.5% during the third quarter. UMB Bank n.a. now owns 743 shares of the company's stock valued at $57,000 after acquiring an additional 412 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Knife River by 1,365.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,363 shares of the company's stock worth $113,000 after buying an additional 1,270 shares in the last quarter. Institutional investors own 80.11% of the company's stock.

Knife River Price Performance

Shares of NYSE:KNF opened at $75.22 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.70. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $103.18. The business has a fifty day simple moving average of $81.44 and a 200 day simple moving average of $75.29. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 1.66 and a beta of 0.41.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The business had revenue of $755.06 million during the quarter, compared to analyst estimates of $726.60 million. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The firm's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. As a group, sell-side analysts predict that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KNF shares. B. Riley Financial started coverage on Knife River in a research note on Thursday, January 15th. They issued a "buy" rating and a $92.00 price objective on the stock. DA Davidson boosted their price objective on Knife River from $95.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Royal Bank Of Canada upped their price target on shares of Knife River from $106.00 to $109.00 and gave the company an "outperform" rating in a report on Wednesday, February 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Knife River in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Knife River from $83.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.43.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

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