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

Key Points

• Allspring Global Investments increased its Knife River stake by 26.7% in Q1, buying 17,082 additional shares and ending the quarter with 80,986 shares worth about $6.65 million.
• Institutional ownership remains high at 80.11% of Knife River’s stock, and several other funds also recently added to or established positions in the company.
• Analysts are mixed but mostly positive: Knife River has an average “Moderate Buy” rating with a consensus price target of $97.14, while the stock recently traded at $77.56 after reporting better-than-expected quarterly revenue and EPS.

Allspring Global Investments Holdings LLC lifted its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,986 shares of the company's stock after acquiring an additional 17,082 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.14% of Knife River worth $6,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hunter Associates Investment Management LLC raised its stake in shares of Knife River by 184.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 36,659 shares of the company's stock worth $2,586,000 after buying an additional 23,764 shares during the period. Paradice Investment Management LLC purchased a new position in shares of Knife River in the fourth quarter worth $22,001,000. Massachusetts Financial Services Co. MA grew its position in shares of Knife River by 30.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 578,023 shares of the company's stock valued at $40,664,000 after purchasing an additional 135,982 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Knife River by 87.8% during the 4th quarter. Teacher Retirement System of Texas now owns 255,557 shares of the company's stock valued at $17,978,000 after buying an additional 119,452 shares in the last quarter. Finally, F m Investments LLC grew its holdings in shares of Knife River by 19.2% in the fourth quarter. F m Investments LLC now owns 73,611 shares of the company's stock valued at $5,179,000 after purchasing an additional 11,839 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Knife River from $80.00 to $81.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 8th. Royal Bank Of Canada lowered their price target on shares of Knife River from $109.00 to $107.00 and set an "outperform" rating for the company in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Knife River from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 3rd. Oppenheimer initiated coverage on shares of Knife River in a report on Thursday, May 28th. They set an "outperform" rating and a $95.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Knife River from $90.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.14.

Knife River Stock Performance

Shares of NYSE:KNF opened at $77.56 on Friday. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $96.28. The firm has a market capitalization of $4.40 billion, a PE ratio of 30.18, a P/E/G ratio of 1.42 and a beta of 0.37. The business's 50 day moving average price is $80.02 and its 200-day moving average price is $81.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating analysts' consensus estimates of ($1.42) by $0.02. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The business had revenue of $410.13 million during the quarter, compared to analysts' expectations of $387.06 million. During the same period in the prior year, the business earned ($1.21) earnings per share. The company's quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Knife River Corporation will post 3.32 earnings per share for the current fiscal year.

Knife River 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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