Knife River Corporation $KNF Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its shares in Knife River Corporation by 32.8% in the second quarter, owning 14,975 shares valued at $1,223,000.
• Knife River reported $0.89 earnings per share for the last quarter, missing the consensus estimate of $1.27, with quarterly revenue of $833.80 million.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $106.83, following recent adjustments by multiple analysts.

KLP Kapitalforvaltning AS increased its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 32.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,975 shares of the company's stock after purchasing an additional 3,700 shares during the period. KLP Kapitalforvaltning AS's holdings in Knife River were worth $1,223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Knife River during the first quarter worth $26,000. Brooklyn Investment Group grew its stake in shares of Knife River by 31,200.0% during the first quarter. Brooklyn Investment Group now owns 313 shares of the company's stock worth $28,000 after purchasing an additional 312 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Knife River in the first quarter valued at $35,000. Bessemer Group Inc. lifted its position in Knife River by 173.9% in the first quarter. Bessemer Group Inc. now owns 545 shares of the company's stock valued at $49,000 after acquiring an additional 346 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in Knife River in the second quarter valued at $52,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Trading Up 1.4%

NYSE KNF opened at $70.51 on Wednesday. The stock has a market capitalization of $4.00 billion, a P/E ratio of 26.21, a P/E/G ratio of 5.86 and a beta of 0.57. Knife River Corporation has a 52-week low of $66.16 and a 52-week high of $108.83. The firm has a 50-day moving average price of $79.65 and a 200 day moving average price of $85.20. 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 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 for the quarter, compared to analyst estimates of $902.26 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company's quarterly 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 expect that Knife River Corporation will post 4.11 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. DA Davidson reduced their price target on shares of Knife River from $105.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, October 1st. Wells Fargo & Company assumed coverage on shares of Knife River in a research report on Tuesday, October 7th. They issued a "cautious" rating for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Knife River in a research report on Wednesday, October 8th. Finally, Oppenheimer reduced their price target on shares of Knife River from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.83.

Knife River 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.

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